NuScale Power (NYSE:SMR) Trading Up 1.9% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s share price rose 1.9% during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $12.9090. Approximately 41,048,861 shares traded hands during trading, an increase of 40% from the average daily volume of 29,400,637 shares. The stock had previously closed at $12.67.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SMR shares. Royal Bank Of Canada decreased their price target 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. Citigroup dropped their price objective on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a report on Friday, May 8th. Northland Securities set a $19.00 target price on NuScale Power in a report on Monday, May 11th. Finally, HSBC initiated coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have issued 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 target price of $15.92.

NuScale Power Stock Performance

The firm’s 50-day moving average price is $11.43 and its two-hundred day moving average price is $15.05. The stock has a market cap of $5.10 billion, a price-to-earnings ratio of -4.78 and a beta of 2.20.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.57 million for 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 firm’s revenue was down 95.8% compared to the same quarter last year. As a group, sell-side analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last three months, insiders have sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH purchased a new position in NuScale Power during the third quarter worth about $14,347,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of NuScale Power by 35.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock valued at $11,659,000 after acquiring an additional 213,329 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after acquiring an additional 1,346,796 shares during the period. Caz Investments LP raised its stake in shares of NuScale Power by 10,000.0% in the 4th quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after acquiring an additional 100,000 shares during the period. Finally, Clear Street Group Inc. acquired a new position in shares of NuScale Power in the 3rd quarter worth approximately $155,616,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.