X-Energy (NASDAQ:XE) Stock Price Up 4.9% After Analyst Upgrade

Shares of X-Energy, Inc. (NASDAQ:XE) were 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 traded hands 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.

XE has been the topic of a number of other research reports. TD Cowen started coverage on X-Energy in a research note on Tuesday. They issued a “buy” rating and a $35.00 target price on the stock. Cantor Fitzgerald started coverage on X-Energy in a research note on Wednesday. They issued an “overweight” rating and a $38.00 target price on the stock. Guggenheim started coverage on X-Energy in a research note on Tuesday. They issued a “buy” rating and a $57.00 target price on the stock. Wolfe Research started coverage on X-Energy in a research note on Tuesday. They issued a “peer perform” rating on the stock. Finally, Morgan Stanley started coverage on X-Energy in a research note on Tuesday. They issued an “overweight” rating and a $41.00 target price on the stock. Three research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, X-Energy has an average rating of “Buy” and an average price target of $39.57.

Insiders Place Their Bets

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

X-Energy Stock 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.