On September 9, X-Energy fell 5.21% in regular trading, trading at $18.19 per share, with turnover of approximately $17.28 million.

On the news front, investment bank Piper Sandler initiated coverage on X-Energy with an Underweight rating and a price target of just $9, significantly below the current trading price and the analyst consensus mean target of $34.38. The bearish initiation stands in sharp contrast to the broader analyst community's average Overweight rating on the stock.

From a fundamental perspective, X-Energy reported Q2 revenue of $54.6 million, a substantial year-over-year increase from $21.5 million and above the consensus estimate of approximately $41.6 million to $47.4 million. However, the company posted an adjusted loss per share of $0.15, missing estimates of $0.11 to $0.12. In Q1, net loss widened to $166.2 million while revenue of $43.4 million also fell short of expectations. The company held approximately $944 million in total liquidity as of March 31.

X-Energy develops advanced small modular reactor technology and manufactures TRISO nuclear fuel, serving utility and industrial customers. The company has recently secured partnerships with Dow, Amazon, Centrica, and Centrus Energy to advance its Xe-100 reactor pipeline exceeding 11.5 gigawatts.

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