X-Energy (NASDAQ:XE) Shares Down 5.8% – Time to Sell?

X-Energy, Inc. (NASDAQ:XE) shares fell 5.8% on Wednesday . The stock traded as low as $17.89 and last traded at $18.03. Approximately 1,508,457 shares changed hands during trading, a decline of 73% from the average daily volume of 5,662,134 shares. The stock had previously closed at $19.15.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on XE shares. Piper Sandler began coverage on shares of X-Energy in a report on Tuesday. They set an “underweight” rating and a $9.00 price objective for the company. UBS Group lowered their target price on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Wall Street Zen cut shares of X-Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. began coverage on X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price target for the company. Finally, Weiss Ratings started coverage on X-Energy in a report on Monday, July 20th. They set a “sell (d)” rating for the company. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $34.25.

X-Energy Stock Down 8.2%

The business has a 50-day moving average price of $17.72. The stock has a market capitalization of $6.44 billion and a price-to-earnings ratio of -105.60.

X-Energy (NASDAQ:XE) last announced its earnings results 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 firm had revenue of $54.60 million during the quarter. The firm’s revenue was up 154.0% on a year-over-year basis. As a group, sell-side analysts forecast that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of XE. IFP Advisors Inc purchased a new stake in shares of X-Energy during the 2nd quarter valued at $95,000. Formula Growth Ltd. purchased a new position in shares of X-Energy in the 2nd quarter worth about $174,000. AXQ Capital LP bought a new position in X-Energy during the second quarter valued at about $188,000. California State Teachers Retirement System bought a new position in X-Energy during the second quarter valued at about $201,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in X-Energy during the second quarter worth about $221,000.

X-Energy Company Profile

X-Energy, Inc (NASDAQ:XE) is an advanced nuclear energy company developing modular reactors and fuel systems designed to provide reliable, low-carbon electricity and industrial heat. Its primary technology is the Xe-100, a high-temperature gas-cooled small modular reactor intended for applications including grid power, industrial operations and data centers.

The company also develops and manufactures TRISO-X nuclear fuel, a coated particle fuel designed for use in high-temperature reactors.