NuScale Power (NYSE:SMR) Trading Up 8% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price was up 8% during trading on Monday . The stock traded as high as $11.25 and last traded at $10.6790. Approximately 36,413,149 shares changed hands during trading, an increase of 20% from the average daily volume of 30,271,869 shares. The stock had previously closed at $9.89.

Analyst Ratings Changes

Several equities research analysts have commented on SMR shares. Barclays cut their price objective on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research note on Monday, February 23rd. HSBC started coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. Finally, Canaccord Genuity Group cut their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Up 8.0%

The business has a 50-day moving average price of $11.42 and a 200-day moving average price of $14.38. The firm has a market capitalization of $3.90 billion, a PE ratio of -3.66 and a beta of 2.20.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.57 million during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business’s revenue was down 95.8% compared to the same quarter last year. On average, equities research analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 39,936,472 shares of company stock valued at $472,831,169 in the last ninety days. 1.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in SMR. Nemes Rush Group LLC acquired a new position in NuScale Power in the third quarter valued at approximately $25,000. Strategic Advocates LLC acquired a new position in NuScale Power in the third quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC lifted its holdings in NuScale Power by 1,550.9% in the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after acquiring an additional 1,675 shares during the last quarter. Assetmark Inc. lifted its holdings in NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares during the last quarter. Finally, Ameriflex Group Inc. acquired a new position in NuScale Power in the fourth quarter valued at approximately $30,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.