X-Energy (NASDAQ:XE) Shares Up 15.8% – Here’s Why

X-Energy, Inc. (NASDAQ:XE) shares shot up 15.8% during mid-day trading on Monday . The company traded as high as $22.22 and last traded at $21.53. 1,318,671 shares were traded during trading, a decline of 77% from the average session volume of 5,783,074 shares. The stock had previously closed at $18.59.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on XE. Wolfe Research initiated coverage on X-Energy in a report on Tuesday, May 19th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. initiated coverage on X-Energy in a research note on Tuesday, May 19th. They issued an “overweight” rating and a $38.00 target price on the stock. 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 target price on the stock. UBS Group initiated coverage on X-Energy in a research note on Tuesday, May 19th. They issued a “buy” rating and a $40.00 target price on the stock. Finally, Morgan Stanley initiated coverage on X-Energy in a research note on Tuesday, May 19th. They issued an “overweight” rating and a $41.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, X-Energy currently has an average rating of “Moderate Buy” and an average target price of $39.57.

X-Energy Trading Up 16.7%

Insider Activity at X-Energy

In other X-Energy news, Director Kathleen W. Hyle acquired 10,000 shares of the business’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the transaction, the director owned 127,640 shares in the company, valued at $2,935,720. This represents a 8.50% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Laura Garcia acquired 1,200 shares of the business’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 $27,600.00. Following the completion of the transaction, the chief accounting officer owned 196,822 shares in the company, valued at approximately $4,526,906. The trade was a 0.61% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders acquired 12,300 shares of company stock valued at $282,900.

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.