X-Energy (NASDAQ:XE) Stock Price Up 9.9% – Here’s What Happened

X-Energy, Inc. (NASDAQ:XE)’s share price was up 9.9% during trading on Monday . The stock traded as high as $19.14 and last traded at $18.92. Approximately 1,308,424 shares changed hands during trading, a decline of 76% from the average session volume of 5,545,473 shares. The stock had previously closed at $17.22.

Analyst Ratings Changes

Several research firms have recently issued reports on XE. Guggenheim began coverage on X-Energy in a research note on Tuesday, May 19th. They issued a “buy” rating and a $57.00 price target for the company. Morgan Stanley started coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $41.00 price objective on the stock. Wall Street Zen cut X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. began coverage on X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price target for the company. Finally, Zacks Research raised X-Energy to a “hold” rating in a research note on Wednesday, May 20th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.86.

X-Energy Price Performance

The stock has a market capitalization of $7.48 billion and a P/E ratio of -122.73. The company has a 50 day moving average price of $17.83.

X-Energy (NASDAQ:XE) last issued its quarterly earnings data 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 firm had revenue of $54.60 million for the quarter. X-Energy’s revenue for the quarter was up 154.0% on a year-over-year basis. Equities research analysts anticipate that X-Energy, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Formula Growth Ltd. bought a new position in shares of X-Energy in the second quarter valued at about $174,000. AXQ Capital LP bought a new position in shares of X-Energy in the second quarter worth about $188,000. California State Teachers Retirement System bought a new stake in shares of X-Energy during the second quarter valued at approximately $201,000. Public Employees Retirement System of Ohio bought a new stake in shares of X-Energy during the second quarter valued at approximately $221,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of X-Energy in the second quarter valued at approximately $1,251,000.

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.