X-Energy (NASDAQ:XE) Shares Down 8.8% – Here’s Why

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

Wall Street Analysts Forecast Growth

XE has been the topic of a number of recent research reports. TD Cowen reaffirmed a “buy” rating on shares of X-Energy in a research note on Tuesday, June 23rd. Cantor Fitzgerald assumed coverage on X-Energy in a research report on Wednesday, May 20th. They issued an “overweight” rating and a $38.00 price objective for the company. Guggenheim initiated coverage on X-Energy in a report on Tuesday, May 19th. They set a “buy” rating and a $57.00 target price for the company. UBS Group decreased their price target on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. Finally, Zacks Research raised X-Energy to a “hold” rating in a research report on Wednesday, May 20th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.86.

X-Energy Trading Up 1.4%

The firm’s 50-day moving average price is $22.18.

Insider Buying and Selling

In other news, CAO Laura Garcia purchased 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was acquired at an average cost of $23.00 per share, with a total value of $27,600.00. Following the acquisition, the chief accounting officer owned 196,822 shares in the company, valued at approximately $4,526,906. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathleen W. Hyle bought 10,000 shares of the company’s stock in a transaction dated Monday, April 27th. The shares were purchased at an average cost of $23.00 per share, with a total value of $230,000.00. Following the acquisition, 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 disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have bought 12,300 shares of company stock worth $282,900.

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.