NuScale Power (NYSE:SMR) Trading 2.8% Higher – Here’s Why

NuScale Power Corporation (NYSE:SMR) shot up 2.8% on Thursday . The stock traded as high as $9.79 and last traded at $9.5460. 35,415,107 shares changed hands during trading, an increase of 17% from the average session volume of 30,188,396 shares. The stock had previously closed at $9.29.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. TD Cowen cut NuScale Power from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Royal Bank Of Canada decreased their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research report on Friday, May 8th. Finally, Northland Securities set a $19.00 price objective on shares of 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 issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $15.92.

NuScale Power Stock Up 2.8%

The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of -3.27 and a beta of 2.20. The business’s fifty day moving average is $11.45 and its 200 day moving average is $14.52.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data 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 firm had revenue of $0.57 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 company’s revenue was down 95.8% compared to the same quarter last year. Equities research analysts expect that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction that occurred on 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 document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 39,936,472 shares of company stock valued at $472,831,169 over the last 90 days. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares during the period. Van ECK Associates Corp increased its position in NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of NuScale Power in the first quarter valued at approximately $59,141,000. Finally, Morgan Stanley increased its position in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares during the period. 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.