NuScale Power (NYSE:SMR) Trading 5.4% Higher – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) rose 5.4% during mid-day trading on Tuesday . The company traded as high as $9.71 and last traded at $9.4950. 25,076,379 shares were traded during trading, a decline of 18% from the average session volume of 30,461,809 shares. The stock had previously closed at $9.01.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. HSBC began coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target on the stock. Citigroup restated a “sell” rating on shares of NuScale Power in a research note on Wednesday, July 22nd. Northland Securities set a $19.00 price objective on NuScale Power in a research report on Monday, May 11th. Truist Financial began coverage on NuScale Power in a research report on Monday, July 13th. They set a “hold” rating and a $10.00 price objective on the stock. Finally, B. Riley Financial reduced their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four 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 company currently has a consensus rating of “Hold” and a consensus target price of $15.15.

NuScale Power Price Performance

The business’s 50 day simple moving average is $9.92 and its 200 day simple moving average is $12.15. The stock has a market cap of $3.47 billion, a P/E ratio of -3.25 and a beta of 2.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. The company’s quarterly revenue was down 95.8% on a year-over-year basis. Research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Institutional Trading of NuScale Power

A number of large investors have recently bought and sold shares of SMR. Vanguard Group Inc. raised its stake in NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after purchasing an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the 1st quarter valued at $59,141,000. Morgan Stanley grew its holdings in shares of NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares during the last quarter. Finally, Samsung C&T Corp grew its holdings in shares of NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after purchasing an additional 2,578,702 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.