NuScale Power (NYSE:SMR) Shares Up 1.6% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price rose 1.6% on Monday . The company traded as high as $10.52 and last traded at $10.2650. Approximately 20,577,958 shares changed hands during trading, a decline of 33% from the average session volume of 30,784,131 shares. The stock had previously closed at $10.10.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of recent research reports. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a research note on Friday, May 8th. Royal Bank Of Canada lowered their price target on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. UBS Group reduced their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. B. Riley Financial lowered their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Bank of America began coverage on NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and a consensus target price of $15.92.

NuScale Power Trading Up 1.6%

The stock has a 50 day moving average of $11.56 and a 200-day moving average of $13.73. The stock has a market capitalization of $3.75 billion, a P/E ratio of -3.52 and a beta of 2.20.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The business had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company’s revenue for the quarter was down 95.8% compared to the same quarter last year. Research analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current year.

Insiders Place Their Bets

In other news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last three months. 1.28% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after purchasing an additional 394,065 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after buying an additional 10,244 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in NuScale Power during the first quarter worth about $390,000. Jones Financial Companies Lllp grew its stake in shares of NuScale Power by 9.1% during the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after purchasing an additional 1,394 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.