NuScale Power (NYSE:SMR) Stock Price Up 6.9% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares rose 6.9% on Tuesday . The company traded as high as $12.69 and last traded at $12.19. Approximately 44,552,269 shares changed hands during trading, an increase of 52% from the average daily volume of 29,219,256 shares. The stock had previously closed at $11.40.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. Royal Bank Of Canada cut their target price on shares of 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. UBS Group cut their target price on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Citigroup cut their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. Barclays cut their target price on shares of 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. Finally, B. Riley Financial cut their target price on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Performance

The company has a market capitalization of $4.45 billion, a PE ratio of -4.17 and a beta of 2.24. The business’s 50-day moving average is $11.40 and its 200-day moving average is $15.25.

NuScale Power (NYSE:SMR) last issued 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). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% on a year-over-year basis. Analysts expect that NuScale Power Corporation will post -0.79 EPS for the current year.

Insiders Place Their Bets

In other NuScale Power news, CEO John Lawrence Hopkins sold 82,667 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $1,010,190.74. Following the completion of the transaction, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Carl M. Fisher sold 22,197 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $271,247.34. Following the completion of the transaction, the chief operating officer directly owned 140,141 shares of the company’s stock, valued at $1,712,523.02. This trade represents a 13.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 40,108,335 shares of company stock valued at $474,931,335. 1.28% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after buying an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp raised its holdings in NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC purchased a new position in NuScale Power in the first quarter worth about $59,141,000. Finally, Morgan Stanley raised its holdings in NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after buying an additional 2,361,532 shares during the last quarter. 78.37% of the stock is 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.