NuScale Power (NYSE:SMR) Issues Quarterly Earnings Results

NuScale Power (NYSE:SMR) posted its quarterly earnings data on Thursday. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74), FiscalAI reports. NuScale Power had a negative return on equity of 49.74% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same period in the previous year, the business posted ($0.18) EPS. The business’s quarterly revenue was up 1635.2% on a year-over-year basis.

NuScale Power Stock Performance

NYSE:SMR traded down $2.04 on Friday, hitting $30.43. 42,179,870 shares of the stock were exchanged, compared to its average volume of 26,208,580. NuScale Power has a 52 week low of $11.08 and a 52 week high of $57.42. The stock has a market capitalization of $8.67 billion, a price-to-earnings ratio of -10.64 and a beta of 2.03. The company’s 50-day moving average price is $39.24 and its 200 day moving average price is $35.94.

Insider Activity

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the sale, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have sold 15,030,641 shares of company stock valued at $605,953,415. 1.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new stake in shares of NuScale Power during the 1st quarter valued at $60,000. EverSource Wealth Advisors LLC increased its holdings in NuScale Power by 187.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $67,000 after purchasing an additional 1,105 shares during the last quarter. Monimus Capital Management LP acquired a new position in NuScale Power in the second quarter valued at about $72,000. Federated Hermes Inc. boosted its holdings in NuScale Power by 344.4% during the second quarter. Federated Hermes Inc. now owns 4,111 shares of the company’s stock worth $163,000 after buying an additional 3,186 shares during the last quarter. Finally, Flow Traders U.S. LLC acquired a new position in shares of NuScale Power during the 2nd quarter worth about $236,000. 78.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

SMR has been the subject of a number of recent analyst reports. Canaccord Genuity Group raised their price target on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Barclays initiated coverage on NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target for the company. Citigroup reissued a “sell” rating and set a $37.50 price objective (down previously from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. BNP Paribas cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, Cantor Fitzgerald assumed coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power currently has an average rating of “Reduce” and an average price target of $37.73.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.