NuScale Power (NYSE:SMR) Stock Price Up 3.3% – What’s Next?

NuScale Power Corporation (NYSE:SMR) shares shot up 3.3% during mid-day trading on Friday . The company traded as high as $10.30 and last traded at $9.8850. 30,873,737 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 30,214,977 shares. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of recent research reports. Royal Bank Of Canada dropped their target price on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a research report on Monday, March 2nd. UBS Group decreased their price target on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Bank of America began coverage on shares of NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price objective for the company. Northland Securities set a $19.00 price objective on shares of NuScale Power in a research note on Monday, May 11th. Finally, Barclays decreased 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 research report on Monday, February 23rd. One 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 assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Price Performance

The stock has a market cap of $3.61 billion, a PE ratio of -3.39 and a beta of 2.20. The business has a 50 day moving average price of $11.43 and a two-hundred day moving average price of $14.45.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The firm had revenue of $0.57 million during the quarter, compared to analysts’ expectations 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 firm’s revenue for the quarter was down 95.8% compared to the same quarter last year. On average, sell-side analysts forecast 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 dated Thursday, April 9th. The shares were sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the sale, the director directly owned 26,436,472 shares in the company, valued at approximately $319,088,217.04. This represents a 33.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold 39,936,472 shares of company stock worth $472,831,169 over the last ninety days. Corporate insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp increased its stake in shares of NuScale Power by 117.8% during 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 during the period. Renaissance Technologies LLC purchased a new stake in NuScale Power in the first quarter worth $59,141,000. Vanguard Group Inc. lifted its stake in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares during the period. Clear Street Group Inc. bought a new stake in NuScale Power in the third quarter valued at $155,616,000. Finally, Voloridge Investment Management LLC purchased a new position in NuScale Power during the 4th quarter valued at $48,993,000. Institutional investors 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.