X-Energy (NASDAQ:XE) Stock Price Down 8.8% – Here’s What Happened

X-Energy, Inc. (NASDAQ:XE) traded down 8.8% during trading on Thursday . The stock traded as low as $13.61 and last traded at $13.74. 1,163,874 shares were traded during trading, a decline of 79% from the average session volume of 5,573,956 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on XE. Guggenheim initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They issued a “buy” rating and a $57.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of X-Energy in a research note on Wednesday, May 20th. They issued an “overweight” rating and a $38.00 price target for the company. Jefferies Financial Group restated a “hold” rating and set a $22.00 price target on shares of X-Energy in a report on Wednesday, June 24th. UBS Group reduced their price target on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, JPMorgan Chase & Co. started coverage on X-Energy in a report on Tuesday, May 19th. They issued an “overweight” rating and a $38.00 price objective on the stock. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $37.86.

X-Energy Price Performance

The firm’s fifty day simple moving average is $22.83.

Insider Activity at X-Energy

In related news, Director Kathleen W. Hyle acquired 10,000 shares of the firm’s stock in a transaction dated Monday, April 27th. The stock was acquired at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the purchase, the director owned 127,640 shares of the company’s stock, valued at $2,935,720. This represents a 8.50% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Laura Garcia acquired 1,200 shares of the stock in a transaction dated Monday, April 27th. The shares were bought at an average cost of $23.00 per share, with a total value of $27,600.00. Following the completion of the transaction, the chief accounting officer owned 196,822 shares of the company’s stock, valued at approximately $4,526,906. This represents a 0.61% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 12,300 shares of company stock valued at $282,900 in the last three months.

X-Energy Company Profile

X-Energy (NASDAQ: XE) is a U.S.-based advanced nuclear technology company focused on the development and commercialization of small modular reactors (SMRs) and advanced nuclear fuel. Its flagship reactor design, the Xe-100, is a high-temperature gas-cooled reactor intended to provide low-carbon electricity and process heat for industrial applications. X-Energy’s technology centers on TRISO fuel, a robust, particle-based fuel form that the company promotes for enhanced safety and high-temperature operation.

The company’s activities include reactor design and engineering, fuel development and manufacturing, regulatory engagement, and project delivery support for utility and industrial customers.