Equities Analysts Issue Forecasts for NuScale Power Co.’s FY2024 Earnings (NYSE:SMR)

NuScale Power Co. (NYSE:SMR) – Analysts at B. Riley decreased their FY2024 EPS estimates for NuScale Power in a research note issued to investors on Tuesday, April 30th. B. Riley analyst R. Pfingst now anticipates that the company will earn ($0.64) per share for the year, down from their previous forecast of ($0.41). The consensus estimate for NuScale Power’s current full-year earnings is ($0.64) per share. B. Riley also issued estimates for NuScale Power’s FY2026 earnings at ($0.11) EPS and FY2027 earnings at $0.12 EPS.

A number of other equities analysts also recently commented on SMR. UBS Group lifted their price target on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on shares of NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 target price on the stock. Wells Fargo & Company reissued an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group lifted their price target on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $7.75.

NuScale Power Price Performance

Shares of SMR stock opened at $6.16 on Thursday. The firm has a fifty day moving average of $5.26 and a two-hundred day moving average of $3.77. The firm has a market cap of $1.44 billion, a P/E ratio of -7.70 and a beta of 0.98. NuScale Power has a 1-year low of $1.81 and a 1-year high of $11.21.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The business had revenue of $4.56 million during the quarter, compared to analysts’ expectations of $1.75 million.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its stake in NuScale Power by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company’s stock valued at $728,000 after purchasing an additional 2,844 shares during the period. Global Retirement Partners LLC bought a new stake in NuScale Power during the fourth quarter valued at about $25,000. Evanson Asset Management LLC boosted its holdings in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after acquiring an additional 7,986 shares during the period. Swiss National Bank raised its position in shares of NuScale Power by 17.2% during the third quarter. Swiss National Bank now owns 62,600 shares of the company’s stock valued at $307,000 after buying an additional 9,200 shares during the last quarter. Finally, Essex Private Wealth Management LLC acquired a new position in shares of NuScale Power during the fourth quarter valued at about $33,000. 15.28% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.96% of the company’s stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.