X-Energy (NASDAQ:XE) Trading 4.9% Higher After Analyst Upgrade

X-Energy, Inc. (NASDAQ:XE)’s share price was up 4.9% during mid-day trading on Tuesday after UBS Group upgraded the stock to a strong-buy rating. UBS Group now has a $40.00 price target on the stock. X-Energy traded as high as $27.06 and last traded at $26.85. Approximately 1,045,868 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 7,446,638 shares. The stock had previously closed at $25.60.

A number of other research analysts have also weighed in on XE. Guggenheim initiated coverage on X-Energy in a research report on Tuesday. They set a “buy” rating and a $57.00 price objective for the company. Wolfe Research began coverage on X-Energy in a research report on Tuesday. They set a “peer perform” rating for the company. TD Cowen began coverage on shares of X-Energy in a research note on Tuesday. They set a “buy” rating and a $35.00 price objective for the company. Cantor Fitzgerald began coverage on shares of X-Energy in a research note on Wednesday. They set an “overweight” rating and a $38.00 price objective for the company. Finally, Wall Street Zen upgraded shares of X-Energy to a “hold” rating in a research note on Saturday, May 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $39.57.

Insider Activity

In other X-Energy news, CAO Laura Garcia purchased 1,200 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were bought at an average price of $23.00 per share, with a total value of $27,600.00. Following the completion of the purchase, the chief accounting officer directly owned 196,822 shares in the company, valued at $4,526,906. This trade represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kathleen W. Hyle purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The shares were acquired at an average cost of $23.00 per share, for a total transaction of $230,000.00. Following the purchase, the director owned 127,640 shares of the company’s stock, valued at $2,935,720. This represents a 8.50% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders bought 12,300 shares of company stock worth $282,900 over the last 90 days.

X-Energy Trading Up 7.1%

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.