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

X-Energy, Inc. (NASDAQ:XE) shares were down 6.4% during mid-day trading on Wednesday . The stock traded as low as $27.23 and last traded at $27.76. Approximately 1,067,509 shares changed hands during mid-day 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 Analysts Forecast Growth

Several equities analysts have issued reports on XE shares. JPMorgan Chase & Co. started coverage on X-Energy in a research report on Tuesday, May 19th. They issued an “overweight” rating and a $38.00 price objective for the company. UBS Group started coverage on X-Energy in a research report on Tuesday, May 19th. They issued a “buy” rating and a $40.00 price objective for the company. TD Cowen started coverage on X-Energy in a research report on Tuesday, May 19th. They issued a “buy” rating and a $35.00 price objective for the company. Guggenheim started coverage on X-Energy in a research report on Tuesday, May 19th. They issued a “buy” rating and a $57.00 price objective for the company. Finally, Cantor Fitzgerald started 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. Six equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.57.

X-Energy Price Performance

Insider Buying and Selling at X-Energy

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