X-Energy (NASDAQ:XE) Trading Down 8.2% – Time to Sell?

X-Energy, Inc. (NASDAQ:XE)’s stock price dropped 8.2% on Thursday . The company traded as low as $18.14 and last traded at $18.22. Approximately 1,849,732 shares were traded during mid-day trading, a decline of 67% from the average session volume of 5,624,546 shares. The stock had previously closed at $19.85.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on XE shares. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price on shares of X-Energy in a research report on Wednesday, June 24th. TD Cowen restated a “buy” rating on shares of X-Energy in a research note on Tuesday, June 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $38.00 price objective on shares of X-Energy in a report on Friday, August 14th. Zacks Research raised X-Energy to a “hold” rating in a research report on Wednesday, May 20th. Finally, Weiss Ratings began coverage on X-Energy in a research note on Monday, July 20th. They set a “sell (d)” rating for the company. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.86.

X-Energy Stock Down 9.3%

The stock has a market cap of $7.31 billion and a PE ratio of -120.00. The business has a 50 day simple moving average of $18.28.

X-Energy (NASDAQ:XE) last issued its earnings results on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. The firm’s revenue for the quarter was up 154.0% on a year-over-year basis. Research analysts anticipate that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Trading of X-Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in XE. Formula Growth Ltd. bought a new stake in X-Energy during the second quarter worth approximately $174,000. Public Employees Retirement System of Ohio bought a new position in X-Energy during the 2nd quarter valued at $221,000. Bank of New York Mellon Corp acquired a new position in shares of X-Energy during the 2nd quarter valued at $1,251,000. Finally, Wellington Management Group LLP acquired a new position in shares of X-Energy during the 2nd quarter valued at $15,011,000.

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.