X-Energy (NASDAQ:XE) Shares Up 13% – Should You Buy?

X-Energy, Inc. (NASDAQ:XE)’s stock price traded up 13% on Friday. The stock traded as high as $10.25 and last traded at $10.17. Approximately 3,142,364 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 5,992,169 shares. The stock had previously closed at $9.00.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price target on shares of X-Energy in a report on Friday, August 14th. Needham & Company LLC began coverage on X-Energy in a research report on Monday, October 26th. They issued a “hold” rating for the company. UBS Group cut their target price on X-Energy from $34.00 to $18.00 and set a “buy” rating for the company in a research note on Wednesday, October 21st. Texas Capital upgraded X-Energy to a “strong-buy” rating in a research report on Monday, September 14th. Finally, Weiss Ratings began coverage on X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

X-Energy Stock Performance

The company has a market capitalization of $4.09 billion and a P/E ratio of -67.07. The stock has a 50 day moving average price of $14.06.

X-Energy (NASDAQ:XE) last announced its quarterly 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 business had revenue of $54.60 million for the quarter. The business’s revenue for the quarter was up 154.0% on a year-over-year basis. Equities analysts anticipate that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Trading of X-Energy

Several institutional investors have recently added to or reduced their stakes in XE. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in X-Energy in the third quarter valued at approximately $130,000. Alps Advisors Inc. boosted its position in shares of X-Energy by 541.0% during the third quarter. Alps Advisors Inc. now owns 137,770 shares of the company’s stock worth $1,954,000 after buying an additional 116,276 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of X-Energy during the third quarter worth $3,520,000. Kestra Private Wealth Services LLC purchased a new position in shares of X-Energy during the third quarter worth $465,000. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of X-Energy in the third quarter valued at $291,000.

About X-Energy

X-energy is an advanced nuclear energy company that develops small modular reactors and nuclear fuel designed to provide reliable, carbon-free electricity and industrial heat. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor that uses helium as a coolant and is designed for modular deployment.

The company also develops TRISO-X fuel, a coated-particle fuel technology intended to withstand extreme temperatures and support the operation of advanced reactors. X-energy’s products are aimed at utilities, industrial customers, and other organizations seeking dependable power and process heat with lower carbon emissions.

Founded in 2009, X-energy is headquartered in Rockville, Maryland.