NuScale Power (NYSE:SMR) Stock Price Up 1.6% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price rose 1.6% on Friday . The company traded as high as $16.61 and last traded at $16.0350. Approximately 27,925,420 shares were traded during mid-day trading, an increase of 83% from the average daily volume of 15,240,549 shares. The stock had previously closed at $15.79.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMR. UBS Group set a $20.00 price objective on shares of NuScale Power in a research note on Tuesday, November 25th. Bank of America reissued an “underperform” rating and issued a $34.00 price target (down from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Royal Bank Of Canada decreased their price objective on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research note on Monday, November 10th. Citigroup reiterated a “sell” rating and issued a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Finally, Cantor Fitzgerald initiated coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price target for the company. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $36.04.

NuScale Power Stock Up 1.6%

The stock has a market cap of $4.79 billion, a PE ratio of -5.61 and a beta of 2.09. The stock has a 50-day moving average of $28.99 and a 200 day moving average of $35.62.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The business had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same period last year, the company earned ($0.18) earnings per share. The firm’s revenue was up 1635.2% on a year-over-year basis. On average, equities analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 1,213,069 shares of the business’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $44.84, for a total value of $54,394,013.96. Following the completion of the transaction, the director owned 8,872,275 shares of the company’s stock, valued at $397,832,811. The trade was a 12.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 10,125,344 shares of company stock worth $405,372,326. Company insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the business. Private Wealth Partners LLC increased its stake in shares of NuScale Power by 39.4% in the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock worth $910,000 after acquiring an additional 6,500 shares during the last quarter. Intech Investment Management LLC grew its stake in NuScale Power by 72.3% in the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after purchasing an additional 38,347 shares in the last quarter. Truist Financial Corp grew its stake in NuScale Power by 23.3% in the second quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after purchasing an additional 9,016 shares in the last quarter. Black Swift Group LLC acquired a new position in NuScale Power in the 2nd quarter worth about $585,000. Finally, Geode Capital Management LLC raised its stake in shares of NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after purchasing an additional 574,295 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.