NuScale Power (NYSE:SMR) Trading 1.2% Higher – Here’s Why

NuScale Power Corporation (NYSE:SMR) shares were up 1.2% during mid-day trading on Wednesday . The stock traded as high as $10.56 and last traded at $10.15. Approximately 22,986,358 shares changed hands during trading, a decline of 25% from the average session volume of 30,678,299 shares. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of recent research reports. HSBC initiated coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Bank of America initiated coverage on shares of NuScale Power in a research note on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a research report on Friday, May 8th. Finally, UBS Group decreased their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Trading Up 1.2%

The firm has a market cap of $3.71 billion, a PE ratio of -3.48 and a beta of 2.20. The firm’s 50 day simple moving average is $11.49 and its 200 day simple moving average is $13.58.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share 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 firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, equities research analysts predict 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 the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its holdings in NuScale Power by 67.1% during the 1st quarter. Pacer Advisors Inc. now owns 164,247 shares of the company’s stock valued at $1,780,000 after buying an additional 65,933 shares during the period. Parallel Advisors LLC boosted its stake in shares of NuScale Power by 1.8% during the 1st quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock worth $649,000 after purchasing an additional 1,053 shares during the period. NewEdge Advisors LLC grew its holdings in NuScale Power by 109.3% during the 1st quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock valued at $525,000 after purchasing an additional 25,293 shares during the last quarter. Concorde Asset Management LLC grew its holdings in NuScale Power by 9.8% during the 1st quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock valued at $134,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Verus Capital Partners LLC purchased a new stake in NuScale Power in the 1st quarter worth about $175,000. 78.37% of the stock is currently 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.