X-Energy (NASDAQ:XE) Shares Gap Up – Still a Buy?

X-Energy, Inc. (NASDAQ:XE)’s share price gapped up prior to trading on Monday. The stock had previously closed at $10.36, but opened at $11.08. X-Energy shares last traded at $10.57, with a volume of 1,667,690 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on XE. Jefferies Financial Group reaffirmed a “hold” rating and set a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. Piper Sandler set a $8.00 target price on X-Energy in a research report on Monday. Weiss Ratings assumed coverage on shares of X-Energy in a research note on Monday, July 20th. They issued a “sell (d)” rating on the stock. Cantor Fitzgerald reissued an “overweight” rating and issued a $38.00 price target on shares of X-Energy in a report on Friday, August 14th. Finally, Texas Capital raised shares of X-Energy to a “strong-buy” rating in a report on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, X-Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.25.

X-Energy Stock Performance

The firm has a 50 day moving average price of $16.55. The company has a market capitalization of $4.24 billion and a price-to-earnings ratio of -69.53.

X-Energy (NASDAQ:XE) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.06). The company had revenue of $54.60 million for the quarter. The firm’s revenue was up 154.0% compared to the same quarter last year. On average, analysts predict that X-Energy, Inc. will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

A number of hedge funds have recently made changes to their positions in XE. Segra Capital Management LLC raised its holdings in shares of X-Energy by 8.3% during the third quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company’s stock valued at $222,314,000 after acquiring an additional 1,202,283 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of X-Energy in the second quarter valued at approximately $15,011,000. State Street Corp acquired a new stake in shares of X-Energy in the second quarter worth approximately $8,522,000. BlueCrest Capital Management Ltd acquired a new stake in shares of X-Energy in the second quarter worth approximately $7,436,000. Finally, Two Seas Capital LP boosted its stake in shares of X-Energy by 39.4% in the third quarter. Two Seas Capital LP now owns 1,394,413 shares of the company’s stock worth $19,773,000 after acquiring an additional 394,413 shares during the last quarter.

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.