Shares of X-Energy, Inc. (NASDAQ:XE) hit a new 52-week low on Wednesday, reaching $12.56. They closed at $12.72.
The decline comes ahead of the company's lock-up period expiration on October 21. Afterward, major shareholders and insiders will be allowed to sell their shares, and a significant number of shares from the public offering will become eligible for trading.
Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $34.25. X-Energy, which is developing small modular nuclear reactors, recently reported a quarterly loss that was wider than anticipated. Revenue increased significantly year over year.