X-Energy (NASDAQ:XE) Shares Up 5.1% – Should You Buy?

X-Energy, Inc. (NASDAQ:XE) was up 5.1% during mid-day trading on Monday . The stock traded as high as $22.28 and last traded at $22.04. 736,978 shares traded hands during trading, a decline of 87% from the average session volume of 5,618,606 shares. The stock had previously closed at $20.98.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on XE shares. Weiss Ratings began coverage on shares of X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. JPMorgan Chase & Co. began coverage on X-Energy in a report on Tuesday, May 19th. They issued an “overweight” rating and a $38.00 price target for the company. Wolfe Research began coverage on X-Energy in a research note on Tuesday, May 19th. They set a “peer perform” rating on the stock. Zacks Research upgraded X-Energy to a “hold” rating in a report on Wednesday, May 20th. Finally, Wall Street Zen downgraded X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, X-Energy currently has an average rating of “Moderate Buy” and a consensus price target of $37.86.

X-Energy Trading Down 1.1%

The stock’s fifty day moving average price is $18.31.

X-Energy (NASDAQ:XE) last released 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 firm had revenue of $54.60 million for the quarter. The company’s revenue was up 154.0% compared to the same quarter last year. On average, research analysts expect that X-Energy, Inc. will post -0.58 EPS for the current year.

Institutional Trading of X-Energy

A hedge fund recently bought a new position in X-Energy stock. Bank of New York Mellon Corp purchased a new stake in shares of X-Energy, Inc. (NASDAQ:XE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 68,126 shares of the company’s stock, valued at approximately $1,251,000.

About X-Energy

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.