X-Energy (NASDAQ:XE) Hits New 52-Week Low – Time to Sell?

X-Energy, Inc. (NASDAQ:XE) shares reached a new 52-week low during trading on Wednesday. The company traded as low as $9.95 and last traded at $10.18, with a volume of 2,153,292 shares. The stock had previously closed at $10.98.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on XE shares. Guggenheim reissued a “buy” rating and issued a $57.00 target price on shares of X-Energy in a research report on Tuesday, September 8th. Needham & Company LLC started coverage on X-Energy in a research report on Monday, October 26th. They set a “hold” rating on the stock. Piper Sandler reduced their price objective on X-Energy from $9.00 to $8.00 and set an “underweight” rating for the company in a research note on Monday, October 19th. Morgan Stanley decreased their price objective on X-Energy from $41.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, October 14th. Finally, UBS Group lowered their target price on shares of X-Energy from $34.00 to $18.00 and set a “buy” rating on the stock in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $29.67.

X-Energy Price Performance

The firm has a market cap of $4.12 billion and a P/E ratio of -67.53. The stock’s 50 day simple moving average is $14.43.

X-Energy (NASDAQ:XE) last announced its 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 firm had revenue of $54.60 million for the quarter. The company’s revenue for the quarter was up 154.0% on a year-over-year basis. On average, analysts forecast that X-Energy, Inc. will post -0.76 earnings per share for the current fiscal year.

Institutional Trading of X-Energy

Hedge funds have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its stake in shares of X-Energy by 541.0% in the 3rd quarter. Alps Advisors Inc. now owns 137,770 shares of the company’s stock valued at $1,954,000 after purchasing an additional 116,276 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of X-Energy during the third quarter worth approximately $3,520,000. Kestra Private Wealth Services LLC purchased a new stake in shares of X-Energy during the third quarter worth approximately $465,000. Chicago Partners Investment Group LLC purchased a new stake in shares of X-Energy during the third quarter worth approximately $291,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings 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 worth $38,429,000 after purchasing an additional 1,261,498 shares during the period.

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.