X-Energy, Inc.’s Lock-Up Period To End on October 21st (NASDAQ:XE)

X-Energy’s (NASDAQ:XE) lock-up period is set to expire on Wednesday, October 21st. X-Energy had issued 44,254,659 shares in its IPO on April 24th. The total size of the offering was $1,017,857,157 based on an initial share price of $23.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Analysts Set New Price Targets

A number of analysts recently commented on XE shares. Jefferies Financial Group reiterated a “hold” rating and issued a $22.00 target price on shares of X-Energy in a research note on Wednesday, June 24th. TD Cowen reissued a “buy” rating on shares of X-Energy in a research report on Tuesday, June 23rd. Morgan Stanley cut their price target on shares of X-Energy from $41.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Weiss Ratings initiated coverage on shares of X-Energy in a research note on Monday, July 20th. They set a “sell (d)” rating on the stock. Finally, Piper Sandler began coverage on shares of X-Energy in a report on Tuesday, September 8th. They issued an “underweight” rating and a $9.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, X-Energy currently has an average rating of “Moderate Buy” and an average price target of $33.38.

X-Energy Trading Down 9.5%

Shares of XE opened at $10.36 on Friday. The stock’s 50-day moving average price is $16.55. X-Energy has a one year low of $10.07 and a one year high of $37.10. The firm has a market cap of $4.21 billion and a PE ratio of -69.07.

X-Energy (NASDAQ:XE) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.15) earnings per share 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 business’s revenue was up 154.0% on a year-over-year basis. As a group, equities research analysts predict that X-Energy will post -0.76 EPS for the current fiscal year.

Institutional Investors Weigh In On X-Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Eastern Bank purchased a new position in X-Energy during the 3rd quarter worth approximately $28,000. GK Wealth Management LLC acquired a new stake in X-Energy during the 3rd quarter valued at approximately $57,000. IFP Advisors Inc acquired a new stake in X-Energy during the 2nd quarter valued at approximately $95,000. Silicon Valley Capital Partners acquired a new stake in X-Energy during the 2nd quarter valued at approximately $103,000. Finally, Formula Growth Ltd. purchased a new stake in shares of X-Energy in the 2nd quarter valued at $174,000.

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.