X-Energy (NASDAQ:XE) Stock Price Down 9.6% – Here’s What Happened

X-Energy, Inc. (NASDAQ:XE)’s share price traded down 9.6% during trading on Thursday . The company traded as low as $23.67 and last traded at $23.76. 2,306,915 shares changed hands during trading, a decline of 61% from the average session volume of 5,968,151 shares. The stock had previously closed at $26.27.

Analyst Upgrades and Downgrades

XE has been the topic of a number of research analyst reports. Jefferies Financial Group initiated coverage on X-Energy in a research note on Tuesday, May 19th. They issued a “hold” rating and a $28.00 price target on the stock. Cantor Fitzgerald initiated coverage on shares of X-Energy in a research note on Wednesday, May 20th. They set an “overweight” rating and a $38.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price objective for the company. Guggenheim initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set a “buy” rating and a $57.00 price objective for the company. Finally, TD Cowen initiated coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set a “buy” rating and a $35.00 price objective for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.57.

X-Energy Stock Performance

Insider Buying and Selling

In related news, CAO Laura Garcia purchased 1,200 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, 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 $4,526,906. This represents a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathleen W. Hyle purchased 10,000 shares of the firm’s 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 $230,000.00. Following the transaction, the director directly owned 127,640 shares of the company’s stock, valued at approximately $2,935,720. This represents a 8.50% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought 12,300 shares of company stock valued at $282,900 in the last three months.

About X-Energy

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.