X-Energy (NASDAQ:XE) Shares Up 10.7% – Here’s Why

X-Energy, Inc. (NASDAQ:XE)’s stock price shot up 10.7% during trading on Monday . The company traded as high as $18.17 and last traded at $18.06. 1,421,323 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 5,724,642 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

XE has been the topic of a number of recent research reports. Wolfe Research began coverage on shares of X-Energy in a research note on Tuesday, May 19th. They issued a “peer perform” rating on the stock. Guggenheim began coverage on shares of X-Energy in a report on Tuesday, May 19th. They set a “buy” rating and a $57.00 price objective for the company. Zacks Research upgraded shares of X-Energy to a “hold” rating in a report on Wednesday, May 20th. Wall Street Zen lowered shares of X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. 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 on the stock. Six 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 company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

X-Energy Trading Up 7.1%

The company’s fifty day moving average is $19.55.

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.