NuScale Power (NYSE:SMR) Shares Up 10.5% – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) shot up 10.5% on Thursday . The company traded as high as $12.52 and last traded at $12.5140. 27,420,318 shares changed hands during mid-day trading, a decline of 4% from the average session volume of 28,671,629 shares. The stock had previously closed at $11.32.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SMR. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Barclays cut their price objective on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Citigroup cut their price objective on NuScale Power from $11.50 to $9.00 and set a “sell” rating on the stock in a research note on Tuesday, April 21st. Canaccord Genuity Group cut their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, February 27th. Finally, Royal Bank Of Canada cut their price objective on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.77.

NuScale Power Stock Up 10.5%

The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of -4.33 and a beta of 2.27. The company has a 50-day moving average price of $11.70 and a 200-day moving average price of $19.28.

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

Insider Buying and Selling

In other news, CFO Robert Ramsey Hamady sold 18,570 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $226,925.40. Following the transaction, the chief financial officer owned 97,192 shares in the company, valued at approximately $1,187,686.24. The trade was a 16.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Clayton Scott sold 22,478 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total transaction of $274,681.16. Following the transaction, the insider directly owned 132,852 shares of the company’s stock, valued at $1,623,451.44. This represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 40,572,082 shares of company stock worth $481,029,608. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently modified their holdings of SMR. Pasadena Private Wealth LLC lifted its position in NuScale Power by 4.9% in the third quarter. Pasadena Private Wealth LLC now owns 6,147 shares of the company’s stock worth $221,000 after purchasing an additional 287 shares during the period. Family Capital Management Inc. lifted its holdings in shares of NuScale Power by 3.5% during the 3rd quarter. Family Capital Management Inc. now owns 8,682 shares of the company’s stock worth $313,000 after acquiring an additional 291 shares during the period. Cibc World Market Inc. lifted its holdings in shares of NuScale Power by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock worth $324,000 after acquiring an additional 329 shares during the period. MAI Capital Management lifted its holdings in shares of NuScale Power by 37.0% during the 3rd quarter. MAI Capital Management now owns 1,654 shares of the company’s stock worth $60,000 after acquiring an additional 447 shares during the period. Finally, Park Avenue Securities LLC lifted its holdings in shares of NuScale Power by 1.5% during the 3rd quarter. Park Avenue Securities LLC now owns 36,314 shares of the company’s stock worth $1,307,000 after acquiring an additional 525 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.