NuScale Power (NYSE:SMR) Trading Up 5.6% – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) shot up 5.6% during trading on Monday . The company traded as high as $8.64 and last traded at $8.5450. Approximately 30,153,310 shares changed hands during mid-day trading, a decline of 1% from the average session volume of 30,425,018 shares. The stock had previously closed at $8.09.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. Barclays decreased their price target on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Citigroup reiterated a “sell” rating on shares of NuScale Power in a research report on Wednesday, July 22nd. Northland Securities set a $19.00 target price on shares of NuScale Power in a research note on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Finally, HSBC began coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $15.15.

NuScale Power Stock Up 5.6%

The business has a fifty day moving average of $10.21 and a 200 day moving average of $12.63. The firm has a market cap of $3.12 billion, a P/E ratio of -2.93 and a beta of 2.24.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SMR. Vanguard Group Inc. grew its holdings in shares of NuScale Power by 40.5% in the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after buying an additional 4,482,254 shares during the period. Van ECK Associates Corp lifted its holdings in NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC acquired a new position in NuScale Power in the first quarter valued at about $59,141,000. Morgan Stanley grew its stake in NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after acquiring an additional 2,361,532 shares during the period. Finally, Samsung C&T Corp increased its holdings in shares of NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after acquiring an additional 2,578,702 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.