X-Energy (NASDAQ:XE) Shares Down 8.5% – Here’s Why

X-Energy, Inc. (NASDAQ:XE)’s share price traded down 8.5% during trading on Monday . The stock traded as low as $20.66 and last traded at $20.72. Approximately 967,845 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 5,693,943 shares. The stock had previously closed at $22.65.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of X-Energy from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. TD Cowen restated a “buy” rating on shares of X-Energy in a research note on Tuesday, June 23rd. JPMorgan Chase & Co. began coverage on X-Energy in a research note on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price target on the stock. Cantor Fitzgerald assumed coverage on X-Energy in a research report on Wednesday, May 20th. They issued an “overweight” rating and a $38.00 target price on the stock. Finally, UBS Group reduced their price target on shares of X-Energy from $40.00 to $34.00 and set a “buy” rating for the company in a research report on Wednesday, July 1st. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, X-Energy currently has an average rating of “Moderate Buy” and an average price target of $37.86.

X-Energy Price Performance

The company’s 50-day moving average is $18.72.

Institutional Investors Weigh In On X-Energy

A hedge fund recently bought a new stake 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.