X-Energy (NASDAQ:XE) Shares Up 9.9% – What’s Next?

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on XE. TD Cowen reiterated a “buy” rating on shares of X-Energy in a research report on Tuesday, June 23rd. Wall Street Zen lowered X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Zacks Research raised shares of X-Energy to a “hold” rating in a research note on Wednesday, May 20th. Wolfe Research assumed coverage on shares of X-Energy in a research report on Tuesday, May 19th. They issued a “peer perform” rating for the company. Finally, Weiss Ratings initiated coverage on shares of X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. Six research 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, X-Energy currently has a consensus rating of “Moderate Buy” and an average target price of $37.86.

X-Energy Stock Up 5.0%

The company has a market cap of $7.35 billion and a price-to-earnings ratio of -120.53. The company’s 50-day moving average is $17.92.

X-Energy (NASDAQ:XE) last released 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 business had revenue of $54.60 million during the quarter. The business’s revenue for the quarter was up 154.0% compared to the same quarter last year. Sell-side analysts anticipate that X-Energy, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

Several institutional investors and hedge funds have recently bought and sold shares of the company. Formula Growth Ltd. acquired a new stake in shares of X-Energy in the second quarter valued at $174,000. AXQ Capital LP acquired a new position in X-Energy during the 2nd quarter worth about $188,000. California State Teachers Retirement System acquired a new position in X-Energy during the 2nd quarter worth about $201,000. Public Employees Retirement System of Ohio purchased a new position in X-Energy during the 2nd quarter valued at about $221,000. Finally, Bank of New York Mellon Corp acquired a new position in X-Energy in the 2nd quarter valued at about $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.