X-Energy (NASDAQ:XE) Stock Price Target Cut by Morgan Stanley

X-Energy (NASDAQ:XE) had its target price dropped by equities research analysts at Morgan Stanley from $41.00 to $34.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 184.76% from the company’s current price.

A number of other equities research analysts have also commented on XE. Guggenheim reissued a “buy” rating and issued a $57.00 price target on shares of X-Energy in a research report on Tuesday, September 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $38.00 target price on shares of X-Energy in a research note on Friday, August 14th. TD Cowen reissued a “buy” rating on shares of X-Energy in a research report on Tuesday, June 23rd. Weiss Ratings initiated coverage on X-Energy in a research report on Monday, July 20th. They set a “sell (d)” rating for the company. Finally, Jefferies Financial Group reiterated a “hold” rating and set a $22.00 price target on shares of X-Energy in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, X-Energy has an average rating of “Moderate Buy” and a consensus price target of $33.38.

X-Energy Stock Down 6.1%

Shares of X-Energy stock traded down $0.78 during trading hours on Wednesday, reaching $11.94. The company’s stock had a trading volume of 1,484,342 shares, compared to its average volume of 5,893,503. The stock has a market cap of $4.85 billion and a P/E ratio of -79.60. The business has a fifty day simple moving average of $17.13. X-Energy has a one year low of $11.94 and a one year high of $37.10.

X-Energy (NASDAQ:XE) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The firm had revenue of $54.60 million during the quarter. The firm’s revenue was up 154.0% compared to the same quarter last year. As a group, equities analysts forecast that X-Energy will post -0.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Eastern Bank purchased a new position in shares of X-Energy during the 3rd quarter valued at $28,000. GK Wealth Management LLC purchased a new stake in shares of X-Energy in the third quarter worth $57,000. IFP Advisors Inc bought a new stake in X-Energy during the second quarter valued at $95,000. Silicon Valley Capital Partners purchased a new position in X-Energy during the second quarter worth about $103,000. Finally, Formula Growth Ltd. purchased a new position in X-Energy during the second quarter worth about $174,000.

X-Energy Company Profile

X-energy is an advanced nuclear energy company developing small modular reactors and the specialized fuel needed to operate them. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor designed to provide reliable, carbon-free electricity and high-temperature process heat for utilities, industrial facilities and other energy users.

The company also develops TRISO-X fuel, a form of accident-tolerant nuclear fuel made with coated fuel particles designed to retain radioactive materials at high temperatures.