X-Energy (NASDAQ:XE) Stock Rated Outperform in New Coverage at Wedbush

Wedbush began coverage on shares of X-Energy (NASDAQ:XE) in a report issued on Tuesday, Briefing.com reports. The firm set an “outperform” rating and a $17.00 price target on the stock. Wedbush‘s price target would suggest a potential upside of 63.93% from the company’s current price.

Other equities analysts have also issued reports about the company. UBS Group lowered their target price on X-Energy from $34.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. Weiss Ratings initiated coverage on X-Energy in a report 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 research report on Friday, August 14th. Needham & Company LLC initiated coverage on shares of X-Energy in a research note on Monday, October 26th. They set a “hold” rating for the company. Finally, Guggenheim restated a “buy” rating and set a $57.00 price objective on shares of X-Energy in a report on Tuesday, September 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $29.67.

X-Energy Trading Down 5.1%

XE stock opened at $10.37 on Tuesday. The business’s 50 day moving average price is $14.57. X-Energy has a fifty-two week low of $10.04 and a fifty-two week high of $37.10. The firm has a market cap of $4.21 billion and a P/E ratio of -69.13.

X-Energy (NASDAQ:XE) last announced its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.06). The business had revenue of $54.60 million during the quarter. The firm’s quarterly revenue was up 154.0% on a year-over-year basis. Equities analysts predict that X-Energy will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Segra Capital Management LLC raised its stake in shares of X-Energy by 8.3% in the third quarter. Segra Capital Management LLC now owns 15,678,017 shares of the company’s stock worth $222,314,000 after purchasing an additional 1,202,283 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of X-Energy by 87.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,710,077 shares of the company’s stock valued at $38,429,000 after buying an additional 1,261,498 shares during the last quarter. Two Seas Capital LP boosted its position in shares of X-Energy by 39.4% during the third quarter. Two Seas Capital LP now owns 1,394,413 shares of the company’s stock valued at $19,773,000 after buying an additional 394,413 shares during the last quarter. Wellington Management Group LLP bought a new stake in X-Energy during the second quarter worth $15,011,000. Finally, State Street Corp bought a new stake in X-Energy during the second quarter worth $8,522,000.

About X-Energy

X-energy is an advanced nuclear energy company that develops small modular reactors and nuclear fuel designed to provide reliable, carbon-free electricity and industrial heat. Its flagship Xe-100 reactor is a high-temperature gas-cooled reactor that uses helium as a coolant and is designed for modular deployment.

The company also develops TRISO-X fuel, a coated-particle fuel technology intended to withstand extreme temperatures and support the operation of advanced reactors. X-energy’s products are aimed at utilities, industrial customers, and other organizations seeking dependable power and process heat with lower carbon emissions.

Founded in 2009, X-energy is headquartered in Rockville, Maryland.