X-Energy (NASDAQ:XE) Stock Price Down 6.4% – Here’s What Happened

X-Energy, Inc. (NASDAQ:XE)’s share price dropped 6.4% during trading on Wednesday . The company traded as low as $27.23 and last traded at $27.76. Approximately 1,067,509 shares were traded during trading, a decline of 84% from the average daily volume of 6,633,375 shares. The stock had previously closed at $29.67.

Wall Street Analyst Weigh In

XE has been the subject of a number of analyst reports. Guggenheim initiated coverage on X-Energy in a research note on Tuesday, May 19th. They set a “buy” rating and a $57.00 price objective for the company. Wall Street Zen raised X-Energy to a “hold” rating in a research note on Saturday, May 2nd. Jefferies Financial Group initiated coverage on X-Energy in a research note on Tuesday, May 19th. They set a “hold” rating and a $28.00 price objective for the company. Wolfe Research initiated coverage on X-Energy in a research note on Tuesday, May 19th. They set a “peer perform” rating for the company. Finally, Cantor Fitzgerald initiated coverage on X-Energy in a research note on Wednesday, May 20th. They set an “overweight” rating and a $38.00 price objective for the company. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.57.

X-Energy Trading Down 8.3%

Insider Activity

In related news, Director Kathleen W. Hyle bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average price of $23.00 per share, for a total transaction of $230,000.00. Following the completion of the acquisition, the director owned 127,640 shares of the company’s stock, valued at approximately $2,935,720. The trade was a 8.50% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Laura Garcia bought 1,200 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $23.00 per share, for a total transaction of $27,600.00. Following the acquisition, the chief accounting officer directly owned 196,822 shares of the company’s stock, valued at $4,526,906. This represents a 0.61% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased 12,300 shares of company stock worth $282,900 in the last quarter.

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.