NuScale Power (NYSE:SMR) Stock Price Up 2.4% – Here’s Why

NuScale Power Corporation (NYSE:SMR) shot up 2.4% during trading on Monday . The company traded as high as $10.98 and last traded at $10.7560. 23,066,340 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 30,086,996 shares. The stock had previously closed at $10.50.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SMR. UBS Group cut their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Zacks Research raised NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. HSBC began coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Finally, Northland Securities set a $19.00 target price on NuScale Power in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Stock Up 2.4%

The business has a fifty day simple moving average of $11.48 and a two-hundred day simple moving average of $14.74. The company has a market cap of $3.93 billion, a P/E ratio of -3.68 and a beta of 2.20.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $7.00 million. The firm’s quarterly revenue was down 95.8% compared to the same quarter last year. On average, equities analysts predict that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 39,936,472 shares of company stock worth $472,831,169 in the last three months. Company insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the business. Allianz Asset Management GmbH purchased a new stake in shares of NuScale Power during the third quarter worth about $14,347,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in NuScale Power by 35.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 822,779 shares of the company’s stock valued at $11,659,000 after buying an additional 213,329 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after buying an additional 1,346,796 shares in the last quarter. Caz Investments LP grew its holdings in NuScale Power by 10,000.0% during the 4th quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after buying an additional 100,000 shares in the last quarter. Finally, Clear Street Group Inc. purchased a new position in NuScale Power during the 3rd quarter valued at approximately $155,616,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.