X-Energy (NASDAQ:XE) Shares Down 7.7% – Time to Sell?

Shares of X-Energy, Inc. (NASDAQ:XE) were down 7.7% during mid-day trading on Thursday . The company traded as low as $21.08 and last traded at $21.12. Approximately 3,020,087 shares were traded during trading, a decline of 48% from the average daily volume of 5,858,271 shares. The stock had previously closed at $22.88.

Analysts Set New Price Targets

A number of analysts have recently weighed in on XE shares. UBS Group initiated 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 assumed coverage on X-Energy in a research report on Tuesday, May 19th. They set a “buy” rating and a $35.00 target price on the stock. Wall Street Zen cut X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Jefferies Financial Group initiated coverage on X-Energy in a report on Tuesday, May 19th. They issued a “hold” rating and a $28.00 price target for the company. Finally, Zacks Research upgraded 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 and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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 business’s stock in a transaction that occurred on Monday, April 27th. The shares were purchased at an average cost of $23.00 per share, with a total value of $27,600.00. Following the transaction, the chief accounting officer directly owned 196,822 shares in the company, valued at approximately $4,526,906. The trade was a 0.61% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathleen W. Hyle bought 10,000 shares of X-Energy stock in a transaction that occurred on Monday, April 27th. The stock was purchased at an average price of $23.00 per share, with a total value of $230,000.00. Following the purchase, the director directly owned 127,640 shares in the company, valued at $2,935,720. The trade was a 8.50% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders purchased 12,300 shares of company stock worth $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.