Stocks
Piper Sandler Slaps Sell Rating on Amazon-Backed X-Energy Stock, Citing Risk Concerns
X-Energy Stock Plunges as Piper Sandler Analyst Slaps Sell Rating
The shares of X-Energy, a small modular reactor (SMR) producer backed by Amazon, dropped over 10% to $17 on Wednesday morning. This decline came after Piper Sandler analyst Dimple Gosai gave the stock a Sell rating and set a price target of $9.
Gosai appreciates X-Energy's asset-light business model but notes that it leaves customers bearing the risk of the company's first-of-a-kind reactor technology.