X-Energy (NASDAQ:XE) Stock Falls 6.9% – Here’s Why

X-Energy, Inc. (NASDAQ:XE)’s share price dropped 6.9% during trading on Wednesday. The stock traded as low as $14.14 and last traded at $14.39. 1,511,060 shares were traded during mid-day trading, a decline of 74% from the average session volume of 5,910,062 shares. The stock had previously closed at $15.45.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price on shares of X-Energy in a report on Wednesday, June 24th. Wall Street Zen lowered X-Energy from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Piper Sandler initiated coverage on X-Energy in a report on Tuesday, September 8th. They issued an “underweight” rating and a $9.00 price objective on the stock. Texas Capital raised shares of X-Energy to a “strong-buy” rating in a research report on Monday, September 14th. Finally, UBS Group reduced their price objective on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a research note on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.25.

X-Energy Stock Down 4.3%

The firm has a market cap of $5.60 billion and a price-to-earnings ratio of -91.80. The company has a 50 day moving average price of $17.39.

X-Energy (NASDAQ:XE) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. The firm’s quarterly revenue was up 154.0% compared to the same quarter last year. As a group, analysts forecast that X-Energy, Inc. will post -0.71 earnings per share for the current fiscal year.

Institutional Trading of X-Energy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Eastern Bank acquired a new position in shares of X-Energy during the third quarter valued at about $28,000. IFP Advisors Inc bought a new stake in shares of X-Energy in the 2nd quarter worth approximately $95,000. Silicon Valley Capital Partners acquired a new stake in shares of X-Energy during the 2nd quarter worth approximately $103,000. Formula Growth Ltd. bought a new stake in shares of X-Energy during the second quarter valued at approximately $174,000. Finally, AXQ Capital LP acquired a new position in shares of X-Energy in the second quarter valued at $188,000.

About X-Energy

X-energy is an advanced nuclear energy company developing small modular reactors and the specialized fuel needed to operate them. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor designed to provide reliable, carbon-free electricity and high-temperature process heat for utilities, industrial facilities and other energy users.

The company also develops TRISO-X fuel, a form of accident-tolerant nuclear fuel made with coated fuel particles designed to retain radioactive materials at high temperatures.