NuScale Power (NYSE:SMR) Trading Up 2.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price shot up 2.4% on Monday . The stock traded as high as $12.10 and last traded at $11.7090. 18,046,745 shares were traded during trading, a decline of 32% from the average session volume of 26,425,887 shares. The stock had previously closed at $11.44.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SMR shares. Cantor Fitzgerald decreased their price target on NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Citigroup reduced their price objective on shares of NuScale Power from $18.50 to $11.50 and set a “sell” rating for the company in a report on Monday, March 2nd. Bank of America upgraded shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a research report on Friday, January 9th. TD Cowen cut shares of NuScale Power from a “buy” rating to a “hold” rating in a research note on Wednesday, February 11th. Finally, Canaccord Genuity Group dropped their price target on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $20.88.

NuScale Power Stock Performance

The company has a market cap of $3.96 billion, a P/E ratio of -4.05 and a beta of 2.20. The stock has a 50 day moving average price of $15.42 and a 200 day moving average price of $24.52.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.70). The firm had revenue of $1.81 million for the quarter, compared to the consensus estimate of $8.76 million. NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 463,747 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $13.15, for a total transaction of $6,098,273.05. Following the completion of the sale, the director directly owned 39,936,472 shares in the company, valued at approximately $525,164,606.80. This trade represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clayton Scott sold 22,478 shares of the company’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the completion of the transaction, the insider directly owned 132,852 shares in the company, valued at $1,623,451.44. This represents a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 635,610 shares of company stock worth $8,198,439. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH acquired a new position in shares of NuScale Power in the third quarter worth about $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in shares of NuScale Power by 686.9% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company’s stock valued at $6,646,000 after acquiring an additional 161,149 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NuScale Power by 103.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company’s stock valued at $21,940,000 after acquiring an additional 309,810 shares during the period. Rockefeller Capital Management L.P. purchased a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $2,615,000. Finally, Lisanti Capital Growth LLC acquired a new position in NuScale Power in the 3rd quarter worth approximately $2,350,000. 78.37% of the stock is 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.