NuScale Power (NYSE:SMR) Posts Earnings Results, Meets Estimates

NuScale Power (NYSE:SMR) released its quarterly earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13), FiscalAI reports. The business had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $8.80 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.

NuScale Power Stock Performance

Shares of SMR stock traded down $0.07 during mid-day trading on Wednesday, hitting $9.42. The company’s stock had a trading volume of 30,593,988 shares, compared to its average volume of 30,417,848. The company’s fifty day simple moving average is $9.86 and its 200-day simple moving average is $12.08. NuScale Power has a 52 week low of $7.21 and a 52 week high of $57.42. The company has a market cap of $3.44 billion, a PE ratio of -3.23 and a beta of 2.26.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Arax Advisory Partners boosted its holdings in shares of NuScale Power by 26.0% during the 4th quarter. Arax Advisory Partners now owns 3,739 shares of the company’s stock worth $53,000 after buying an additional 772 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in shares of NuScale Power by 7.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 14,270 shares of the company’s stock valued at $514,000 after acquiring an additional 1,015 shares in the last quarter. Triumph Capital Management acquired a new position in shares of NuScale Power during the 3rd quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in shares of NuScale Power by 187.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $67,000 after acquiring an additional 1,105 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in NuScale Power by 72.7% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 3,289 shares of the company’s stock worth $118,000 after acquiring an additional 1,384 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on SMR shares. HSBC began coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. Bank of America assumed coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. B. Riley Financial decreased their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Finally, Northland Securities set a $19.00 price target on shares of NuScale Power in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $15.15.

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.