X-Energy (NASDAQ:XE) Shares Down 8.7% – Here’s Why

X-Energy, Inc. (NASDAQ:XE)’s share price dropped 8.7% on Wednesday . The stock traded as low as $19.15 and last traded at $19.26. Approximately 1,132,166 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 5,871,801 shares. The stock had previously closed at $21.09.

Analysts Set New Price Targets

XE has been the subject of a number of analyst reports. Guggenheim assumed coverage on X-Energy in a research note on Tuesday, May 19th. They issued a “buy” rating and a $57.00 price target for the company. Jefferies Financial Group reaffirmed a “hold” rating on shares of X-Energy in a research note on Wednesday. Wall Street Zen cut X-Energy from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th. TD Cowen reissued a “buy” rating on shares of X-Energy in a research note on Tuesday. Finally, Morgan Stanley began coverage on X-Energy in a report on Tuesday, May 19th. They issued an “overweight” rating and a $41.00 price target on the stock. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $39.57.

X-Energy Stock Performance

The company’s fifty day moving average price is $26.50.

Insider Transactions at X-Energy

In other news, Director Kathleen W. Hyle purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The stock was bought at an average cost of $23.00 per share, with a total value of $230,000.00. Following the completion of the purchase, the director owned 127,640 shares in the company, valued at approximately $2,935,720. This represents a 8.50% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Laura Garcia purchased 1,200 shares of the business’s stock in a transaction on Monday, April 27th. The shares were purchased at an average price of $23.00 per share, with a total value of $27,600.00. Following the acquisition, the chief accounting officer directly owned 196,822 shares in the company, valued at $4,526,906. This represents a 0.61% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders purchased 12,300 shares of company stock worth $282,900 over the last quarter.

X-Energy Company Profile

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.