NuScale Power (NYSE:SMR) Trading Up 2.6% – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) rose 2.6% on Wednesday . The stock traded as high as $19.99 and last traded at $19.7350. Approximately 19,375,066 shares changed hands during trading, a decline of 46% from the average daily volume of 36,051,375 shares. The stock had previously closed at $19.23.

Analysts Set New Price Targets

SMR has been the subject of a number of research analyst reports. Barclays initiated coverage on NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. Cantor Fitzgerald assumed coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price on the stock. Citigroup reiterated a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. UBS Group set a $20.00 price target on shares of NuScale Power in a report on Tuesday, November 25th. Finally, Zacks Research upgraded shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Monday, December 22nd. Four equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, NuScale Power has an average rating of “Hold” and an average price target of $34.75.

NuScale Power Stock Up 6.7%

The company has a market capitalization of $6.02 billion, a PE ratio of -7.05 and a beta of 2.12. The firm has a 50-day moving average of $19.17 and a two-hundred day moving average of $32.71.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The business’s revenue for the quarter was up 1635.2% on a year-over-year basis. Equities analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in SMR. MRA Advisory Group raised its position in NuScale Power by 57.4% during the fourth quarter. MRA Advisory Group now owns 39,902 shares of the company’s stock worth $565,000 after acquiring an additional 14,551 shares during the period. Balboa Wealth Partners increased its stake in NuScale Power by 5.9% during the 4th quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock worth $191,000 after buying an additional 756 shares in the last quarter. Compagnie Lombard Odier SCmA acquired a new position in shares of NuScale Power during the fourth quarter valued at approximately $57,000. Victory Financial Group LLC purchased a new position in shares of NuScale Power in the fourth quarter valued at approximately $562,000. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of NuScale Power in the fourth quarter valued at approximately $209,000. 78.37% of the stock is 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.