X-Energy (NASDAQ:XE) Shares Climb 6% – Time to Buy?

X-Energy, Inc. (NASDAQ:XE) was up 6% on Tuesday. The company traded as high as $15.39 and last traded at $15.27. 2,204,628 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 5,863,577 shares. The stock had previously closed at $14.41.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. TD Cowen restated a “buy” rating on shares of X-Energy in a research report on Tuesday, June 23rd. UBS Group dropped their price target on X-Energy from $40.00 to $34.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. Wall Street Zen lowered shares of X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Guggenheim restated a “buy” rating and set a $57.00 target price on shares of X-Energy in a research report on Tuesday, September 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $34.25.

X-Energy Stock Down 6.9%

The firm has a market cap of $5.85 billion and a price-to-earnings ratio of -95.93. The business has a 50 day moving average price of $17.45.

X-Energy (NASDAQ:XE) last announced its earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $54.60 million for the quarter. X-Energy’s revenue was up 154.0% compared to the same quarter last year. On average, analysts predict that X-Energy, Inc. will post -0.71 EPS for the current year.

Hedge Funds Weigh In On X-Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Eastern Bank bought a new stake in X-Energy in the 3rd quarter worth approximately $28,000. IFP Advisors Inc bought a new position in X-Energy during the second quarter valued at approximately $95,000. Silicon Valley Capital Partners purchased a new position in shares of X-Energy during the second quarter worth approximately $103,000. Formula Growth Ltd. bought a new stake in shares of X-Energy in the 2nd quarter worth approximately $174,000. Finally, AXQ Capital LP purchased a new stake in shares of X-Energy in the 2nd quarter valued at $188,000.

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.