NuScale Power Corporation (NYSE:SMR) Sees Large Increase in Short Interest

NuScale Power Corporation (NYSE:SMR) saw a significant growth in short interest in April. As of April 15th, there was short interest totaling 66,321,822 shares, a growth of 23.9% from the March 31st total of 53,538,902 shares. Based on an average daily volume of 29,933,083 shares, the days-to-cover ratio is currently 2.2 days. Currently, 19.9% of the company’s stock are sold short.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 18,570 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $226,925.40. Following the sale, the chief financial officer directly owned 97,192 shares in the company, valued at $1,187,686.24. The trade was a 16.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 40,572,082 shares of company stock valued at $481,029,608 over the last ninety days. Insiders own 1.20% of the company’s stock.

Institutional Trading of NuScale Power

Hedge funds have recently bought and sold shares of the company. Strategic Advocates LLC purchased a new stake in NuScale Power during the third quarter valued at $25,000. CX Institutional purchased a new stake in NuScale Power during the third quarter valued at $25,000. Nemes Rush Group LLC purchased a new stake in NuScale Power during the third quarter valued at $25,000. Accredited Wealth Management LLC purchased a new stake in NuScale Power during the third quarter valued at $35,000. Finally, Triumph Capital Management purchased a new stake in NuScale Power during the third quarter valued at $37,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Performance

Shares of SMR stock traded down $0.31 during mid-day trading on Friday, hitting $12.16. The company’s stock had a trading volume of 20,432,222 shares, compared to its average volume of 36,999,040. NuScale Power has a 52-week low of $8.85 and a 52-week high of $57.42. The business has a 50-day moving average price of $11.66 and a 200 day moving average price of $19.23. The stock has a market cap of $4.11 billion, a price-to-earnings ratio of -4.21 and a beta of 2.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The business had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $8.76 million. Equities research analysts predict that NuScale Power will post -0.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SMR shares. Cantor Fitzgerald dropped their price target on NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Citigroup dropped their price target on NuScale Power from $11.50 to $9.00 and set a “sell” rating on the stock in a research report on Tuesday, April 21st. The Goldman Sachs Group dropped their target price on NuScale Power from $20.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, March 2nd. B. Riley Financial dropped their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Barclays dropped their target price on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $19.77.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.