X-Energy (NASDAQ:XE) Issues Quarterly Earnings Results

X-Energy (NASDAQ:XE) posted its quarterly earnings results on Thursday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.07, FiscalAI reports. The business had revenue of $66.34 million during the quarter. The company’s revenue for the quarter was up 118.1% on a year-over-year basis.

Here are the key takeaways from X-Energy’s conference call:

• The NRC issued a construction permit for Dow’s Long Mott project more than a month ahead of schedule, a regulatory milestone X-Energy says could help streamline later applications. Dow still needs to make its investment decisions, with a preliminary decision expected in 2027.
• X-Energy, AEP and Amazon agreed to advance development of a proposed 960-MW, 12-reactor project in Indiana, adding to the company’s commercial pipeline. The work is at an early stage and includes site studies and preparation for a future permit application.
• Construction of the TX-1 fuel facility’s exterior was completed on schedule, and the company is moving into interior work and equipment installation. X-Energy also highlighted its NRC license to manufacture TRISO-X fuel and its aim to serve customers beyond its own reactor fleet.
• X-Energy reported $1.8 billion in cash and investments and no debt at quarter-end, while revenue and grant income rose 118% year over year to $66.3 million. However, operating expenses increased 139% to $169.9 million, and operating activities used $51.2 million in cash during the quarter.
• The Xe-100 design entered the U.K.’s Generic Design Assessment, while XTAC renovations and testing are intended to reduce manufacturing and operating risks ahead of deployment. These efforts support the company’s longer-term plans but do not yet represent commercial operation.

X-Energy Price Performance

NASDAQ XE traded up $0.56 on Thursday, hitting $11.50. 4,061,420 shares of the stock were exchanged, compared to its average volume of 5,990,935. X-Energy has a 52-week low of $8.68 and a 52-week high of $37.10. The company has a market cap of $4.67 billion and a P/E ratio of -76.67. The business’s 50-day moving average price is $13.48.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on X-Energy from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Weiss Ratings initiated coverage on X-Energy in a research report on Monday, July 20th. They set a “sell (d)” rating on the stock. Texas Capital raised X-Energy to a “strong-buy” rating in a report on Monday, September 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $38.00 target price on shares of X-Energy in a report on Friday, August 14th. Finally, Morgan Stanley decreased their price target on X-Energy from $41.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

Institutional Trading of X-Energy

A number of hedge funds have recently modified their holdings of the business. Eastern Bank acquired a new stake in shares of X-Energy during the third quarter worth approximately $28,000. GK Wealth Management LLC acquired a new position in X-Energy in the 3rd quarter valued at approximately $57,000. IFP Advisors Inc purchased a new stake in X-Energy in the 2nd quarter worth approximately $95,000. Silicon Valley Capital Partners purchased a new stake in X-Energy in the 2nd quarter worth approximately $103,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in X-Energy in the 3rd quarter worth approximately $130,000.

About X-Energy

X-energy is an advanced nuclear technology company developing small modular reactors and nuclear fuel. Its flagship design, the Xe-100, is a high-temperature, gas-cooled reactor intended to provide electricity and industrial process heat. The company’s reactor design uses pebble-shaped fuel containing TRISO-X particles, which are engineered to retain radioactive materials at high temperatures. Founded in 2009, X-energy has worked with government and commercial partners to advance its reactor and fuel technologies.