NuScale Power (NYSE:SMR) Shares Up 4.8% – Here’s Why

NuScale Power Corporation (NYSE:SMR) shares shot up 4.8% during trading on Wednesday . The stock traded as high as $10.90 and last traded at $10.36. Approximately 47,572,972 shares were traded during trading, an increase of 56% from the average daily volume of 30,435,875 shares. The stock had previously closed at $9.89.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SMR shares. Bank of America initiated coverage on NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price objective for the company. Barclays cut their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. Northland Securities set a $19.00 price target on shares of NuScale Power in a research report on Monday, May 11th. Royal Bank Of Canada decreased their price target on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research note on Monday, March 2nd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Up 0.2%

The company has a fifty day moving average of $11.48 and a two-hundred day moving average of $14.14. The stock has a market capitalization of $4.30 billion, a price-to-earnings ratio of -4.03 and a beta of 2.20.

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

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last quarter. 1.28% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after buying an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after buying an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NuScale Power by 22.6% in the third 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. Renaissance Technologies LLC acquired a new position in NuScale Power during the first quarter worth $59,141,000. Finally, Morgan Stanley grew its holdings in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after acquiring an additional 2,361,532 shares during the period. 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.