X-Energy, Inc.’s Quiet Period To Expire on June 3rd (NASDAQ:XE)

X-Energy’s (NASDAQ:XE) quiet period is set to end on Wednesday, June 3rd. X-Energy had issued 44,254,659 shares in its public offering on April 24th. The total size of the offering was $1,017,857,157 based on an initial share price of $23.00. During X-Energy’s quiet period, insiders and underwriters that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on XE. Wall Street Zen upgraded X-Energy to a “hold” rating in a report on Saturday, May 2nd. Morgan Stanley began coverage on X-Energy in a report on Tuesday, May 19th. They issued an “overweight” rating and a $41.00 target price on the stock. UBS Group assumed coverage on X-Energy in a report on Tuesday, May 19th. They issued a “buy” rating and a $40.00 target price on the stock. TD Cowen assumed coverage on X-Energy in a report on Tuesday, May 19th. They set a “buy” rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on X-Energy in a report on Tuesday, May 19th. They set an “overweight” rating and a $38.00 price target on the stock. Six equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $39.57.

X-Energy Stock Up 4.8%

Shares of X-Energy stock opened at $29.67 on Wednesday. X-Energy has a 12 month low of $25.06 and a 12 month high of $37.10.

Insiders Place Their Bets

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

About X-Energy

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.