X-Energy (NASDAQ:XE) Stock Price Up 10.7% – Time to Buy?

Shares of X-Energy, Inc. (NASDAQ:XE) shot up 10.7% during trading on Monday . The stock traded as high as $18.17 and last traded at $18.06. Approximately 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.

Analysts Set New Price Targets

XE has been the topic of several recent research reports. Wall Street Zen cut shares of X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Guggenheim initiated coverage on shares of X-Energy in a report on Tuesday, May 19th. They set a “buy” rating and a $57.00 price objective on the stock. Morgan Stanley started coverage on X-Energy in a research note on Tuesday, May 19th. They issued an “overweight” rating and a $41.00 target price for the company. TD Cowen reaffirmed a “buy” rating on shares of X-Energy in a report on Tuesday, June 23rd. Finally, Cantor Fitzgerald started coverage on X-Energy in a report on Wednesday, May 20th. They set an “overweight” rating and a $38.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.86.

X-Energy Stock Up 6.8%

The company’s 50-day moving average is $19.11.

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.