NuScale Power (NYSE:SMR) Trading Up 8% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares were up 8% during trading on Monday . The company traded as high as $11.25 and last traded at $10.6790. Approximately 36,413,149 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 30,271,869 shares. The stock had previously closed at $9.89.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SMR shares. Canaccord Genuity Group decreased their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Northland Securities set a $19.00 price objective on NuScale Power in a report on Monday, May 11th. UBS Group decreased their price objective on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. B. Riley Financial decreased their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Finally, Royal Bank Of Canada decreased their price target 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 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $15.92.

NuScale Power Price Performance

The business has a 50 day simple moving average of $11.42 and a 200 day simple moving average of $14.38. The company has a market capitalization of $3.90 billion, a price-to-earnings ratio of -3.66 and a beta of 2.20.

NuScale Power (NYSE:SMR) last released its quarterly 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). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. On average, equities research analysts predict that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares in the company, valued at $319,088,217.04. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 39,936,472 shares of company stock worth $472,831,169 in the last 90 days. 1.28% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of 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 valued at $263,195,000 after acquiring an additional 1,346,796 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the first quarter valued at $59,141,000. Finally, Morgan Stanley raised its stake in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after acquiring an additional 2,361,532 shares in the last quarter. 78.37% of the stock is currently 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.