X-Energy (NASDAQ:XE) Stock Price Down 7.7% – Here’s Why

X-Energy, Inc. (NASDAQ:XE) traded down 7.7% during trading on Thursday . The company traded as low as $21.08 and last traded at $21.12. 3,020,087 shares traded hands during mid-day trading, a decline of 48% from the average daily volume of 5,858,271 shares. The stock had previously closed at $22.88.

Analyst Ratings Changes

A number of research firms have weighed in on XE. Morgan Stanley started coverage on shares of X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $41.00 price target on the stock. Wolfe Research assumed coverage on shares of X-Energy in a research note on Tuesday, May 19th. They issued a “peer perform” rating for the company. UBS Group started coverage on shares of X-Energy in a report on Tuesday, May 19th. They set a “buy” rating and a $40.00 price objective for the company. Wall Street Zen cut shares of X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Finally, Guggenheim began coverage on shares of X-Energy in a research report on Tuesday, May 19th. They issued a “buy” rating and a $57.00 price target for the company. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, X-Energy currently has a consensus rating of “Moderate Buy” and an average target price of $39.57.

X-Energy Trading Down 6.2%

Insiders Place Their Bets

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

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.