NuScale Power (NYSE:SMR) Stock Price Up 2.9% – Here’s Why

NuScale Power Corporation (NYSE:SMRGet Free Report) shares were up 2.9% during trading on Wednesday . The stock traded as high as $12.56 and last traded at $12.3810. Approximately 16,788,812 shares were traded during trading, a decline of 39% from the average daily volume of 27,531,607 shares. The stock had previously closed at $12.03.

Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

Analyst Ratings Changes

Several equities research analysts recently issued reports on SMR shares. Cantor Fitzgerald cut their target price on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. The Goldman Sachs Group decreased their price objective on shares of NuScale Power from $20.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, March 2nd. UBS Group set a $20.00 price objective on NuScale Power in a research report on Tuesday, November 25th. Finally, Citigroup cut their target price on shares of NuScale Power from $18.50 to $11.50 and set a “sell” rating on the stock in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $21.42.

View Our Latest Stock Report on SMR

NuScale Power Stock Performance

The stock’s 50 day moving average price is $16.35 and its 200 day moving average price is $25.89. The company has a market capitalization of $3.70 billion, a P/E ratio of -4.28 and a beta of 2.19.

NuScale Power (NYSE:SMRGet Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The company had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. On average, analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 82,667 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the sale, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at $1,429,959.96. This trade represents a 41.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Carl M. Fisher sold 22,197 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $271,247.34. Following the completion of the transaction, the chief operating officer directly owned 140,141 shares in the company, valued at $1,712,523.02. This trade represents a 13.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 635,610 shares of company stock valued at $8,198,439 over the last three months. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in the stock. Pasadena Private Wealth LLC grew its position in shares of NuScale Power by 4.9% during the 3rd quarter. Pasadena Private Wealth LLC now owns 6,147 shares of the company’s stock valued at $221,000 after acquiring an additional 287 shares during the period. Family Capital Management Inc. grew its holdings in NuScale Power by 3.5% during the third quarter. Family Capital Management Inc. now owns 8,682 shares of the company’s stock valued at $313,000 after purchasing an additional 291 shares during the period. Cibc World Market Inc. grew its holdings in NuScale Power by 3.8% during the third quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after purchasing an additional 329 shares during the period. TD Waterhouse Canada Inc. increased its position in NuScale Power by 14.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company’s stock worth $95,000 after buying an additional 341 shares during the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock valued at $45,000 after buying an additional 350 shares during the period. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

(Get Free Report)

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.

Further Reading

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