X-Energy (NASDAQ:XE) Now Covered by Analysts at Needham & Company LLC

Research analysts at Needham & Company LLC started coverage on shares of X-Energy (NASDAQ:XE) in a research report issued to clients and investors on Monday, MarketBeat.com reports. The brokerage set a “hold” rating on the stock.

Several other analysts have also weighed in on XE. Weiss Ratings started coverage on shares of X-Energy in a report on Monday, July 20th. They set a “sell (d)” rating for the company. Guggenheim reiterated a “buy” rating and issued a $57.00 target price on shares of X-Energy in a research note on Tuesday, September 8th. Morgan Stanley reduced their target price on X-Energy from $41.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Texas Capital upgraded X-Energy to a “strong-buy” rating in a research report on Monday, September 14th. Finally, Piper Sandler decreased their price target on X-Energy from $9.00 to $8.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, X-Energy currently has a consensus rating of “Hold” and an average price target of $31.25.

X-Energy Price Performance

Shares of X-Energy stock opened at $10.60 on Monday. The firm has a market cap of $4.31 billion and a PE ratio of -70.67. The stock’s 50-day moving average price is $15.51. X-Energy has a 12-month low of $10.04 and a 12-month high of $37.10.

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 company had revenue of $54.60 million for the quarter. The company’s quarterly revenue was up 154.0% compared to the same quarter last year. On average, equities analysts predict that X-Energy will post -0.76 EPS for the current year.

Hedge Funds Weigh In On X-Energy

Several large investors have recently made changes to their positions in the company. Segra Capital Management LLC raised its holdings in X-Energy by 8.3% during the 3rd 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. Wellington Management Group LLP acquired a new position in X-Energy during the 2nd quarter valued at about $15,011,000. State Street Corp bought a new position in shares of X-Energy in the 2nd quarter valued at about $8,522,000. BlueCrest Capital Management Ltd bought a new position in shares of X-Energy in the 2nd quarter valued at about $7,436,000. Finally, Two Seas Capital LP boosted its stake in shares of X-Energy by 39.4% in the 3rd quarter. Two Seas Capital LP now owns 1,394,413 shares of the company’s stock valued at $19,773,000 after purchasing an additional 394,413 shares during the last quarter.

X-Energy Company Profile

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.