NuScale Power (NYSE:SMR) Shares Up 1.2% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) rose 1.2% during mid-day trading on Wednesday . The company traded as high as $10.56 and last traded at $10.15. 22,986,358 shares were traded during trading, a decline of 25% from the average daily volume of 30,678,299 shares. The stock had previously closed at $10.03.

Wall Street Analyst Weigh In

SMR has been the topic of a number of research analyst reports. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a research note on Friday, May 8th. B. Riley Financial dropped their target price 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. Northland Securities set a $19.00 price objective on NuScale Power in a research note on Monday, May 11th. Finally, Citigroup reduced their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Up 1.2%

The firm has a 50 day moving average price of $11.49 and a 200-day moving average price of $13.58. The stock has a market capitalization of $3.71 billion, a PE ratio of -3.48 and a beta of 2.20.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The company had revenue of $0.56 million for the quarter, compared to analysts’ expectations of $7.00 million. The company’s quarterly revenue was down 95.8% compared to the same quarter last year. Equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 39,936,472 shares of company stock valued at $472,831,169. 1.28% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in shares of NuScale Power by 67.1% during the 1st quarter. Pacer Advisors Inc. now owns 164,247 shares of the company’s stock valued at $1,780,000 after buying an additional 65,933 shares during the period. Parallel Advisors LLC raised its stake in NuScale Power by 1.8% during the first quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock valued at $649,000 after buying an additional 1,053 shares in the last quarter. NewEdge Advisors LLC lifted its stake in NuScale Power by 109.3% during the first quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock worth $525,000 after purchasing an additional 25,293 shares during the last quarter. Concorde Asset Management LLC boosted its holdings in shares of NuScale Power by 9.8% in the 1st quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock valued at $134,000 after buying an additional 1,110 shares during the period. Finally, Verus Capital Partners LLC acquired a new position in NuScale Power during the 1st quarter valued at approximately $175,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Company Profile

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.