X-Energy (NASDAQ:XE) Announces Quarterly Earnings Results

X-Energy (NASDAQ:XE) announced its quarterly earnings data on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.07, FiscalAI reports. The firm had revenue of $66.34 million during the quarter. The business’s revenue was up 118.1% compared to the same quarter last year.

Here are the key takeaways from X-Energy’s conference call:

• The NRC issued a construction permit for Dow’s Long Mott project more than a month ahead of schedule, a regulatory milestone X-Energy says could help streamline later applications. Dow still needs to make its investment decisions, with a preliminary decision expected in 2027.
• X-Energy, AEP and Amazon agreed to advance development of a proposed 960-MW, 12-reactor project in Indiana, adding to the company’s commercial pipeline. The work is at an early stage and includes site studies and preparation for a future permit application.
• Construction of the TX-1 fuel facility’s exterior was completed on schedule, and the company is moving into interior work and equipment installation. X-Energy also highlighted its NRC license to manufacture TRISO-X fuel and its aim to serve customers beyond its own reactor fleet.
• X-Energy reported $1.8 billion in cash and investments and no debt at quarter-end, while revenue and grant income rose 118% year over year to $66.3 million. However, operating expenses increased 139% to $169.9 million, and operating activities used $51.2 million in cash during the quarter.
• The Xe-100 design entered the U.K.’s Generic Design Assessment, while XTAC renovations and testing are intended to reduce manufacturing and operating risks ahead of deployment. These efforts support the company’s longer-term plans but do not yet represent commercial operation.

X-Energy Stock Up 2.9%

Shares of NASDAQ XE opened at $11.26 on Friday. X-Energy has a 52 week low of $8.68 and a 52 week high of $37.10. The company has a 50-day moving average of $13.34.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Segra Capital Management LLC lifted its position in shares of X-Energy by 8.3% during the 3rd quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company’s stock valued at $222,314,000 after acquiring an additional 1,202,283 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of X-Energy by 87.1% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,710,077 shares of the company’s stock worth $38,429,000 after acquiring an additional 1,261,498 shares during the period. Two Seas Capital LP increased its stake in X-Energy by 39.4% in the 3rd quarter. Two Seas Capital LP now owns 1,394,413 shares of the company’s stock valued at $19,773,000 after purchasing an additional 394,413 shares in the last quarter. Wellington Management Group LLP purchased a new position in X-Energy in the 2nd quarter valued at approximately $15,011,000. Finally, State Street Corp raised its holdings in X-Energy by 46.7% during the third quarter. State Street Corp now owns 680,851 shares of the company’s stock worth $9,654,000 after purchasing an additional 216,713 shares during the last quarter.

Analyst Ratings Changes

XE has been the topic of several analyst reports. Wedbush initiated coverage on shares of X-Energy in a report on Tuesday, November 3rd. They issued an “outperform” rating and a $17.00 target price on the stock. UBS Group cut their price target on shares of X-Energy from $34.00 to $18.00 and set a “buy” rating for the company in a report on Wednesday, October 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $38.00 price objective on shares of X-Energy in a research report on Friday, August 14th. Morgan Stanley lowered their price objective on X-Energy from $41.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Finally, Weiss Ratings began coverage on X-Energy in a research report on Monday, July 20th. They set a “sell (d)” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

X-Energy Company Profile

X-energy is an advanced nuclear technology company developing small modular reactors and nuclear fuel. Its flagship design, the Xe-100, is a high-temperature, gas-cooled reactor intended to provide electricity and industrial process heat. The company’s reactor design uses pebble-shaped fuel containing TRISO-X particles, which are engineered to retain radioactive materials at high temperatures. Founded in 2009, X-energy has worked with government and commercial partners to advance its reactor and fuel technologies.