NuScale Power (NYSE:SMR) Issues Quarterly Earnings Results

NuScale Power (NYSE:SMR) announced its earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.13), FiscalAI reports. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The company had revenue of $0.07 million during the quarter, compared to the consensus estimate of $8.80 million.

NuScale Power Trading Down 0.7%

Shares of NYSE:SMR traded down $0.07 during midday trading on Wednesday, hitting $9.42. The company had a trading volume of 30,868,974 shares, compared to its average volume of 30,442,900. NuScale Power has a 12 month low of $7.21 and a 12 month high of $57.42. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -3.23 and a beta of 2.26. The firm has a fifty day simple moving average of $9.86 and a 200 day simple moving average of $12.08.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the stock. Triumph Capital Management acquired a new position in shares of NuScale Power during the 3rd quarter worth about $37,000. EverSource Wealth Advisors LLC raised its position in shares of NuScale Power by 187.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $67,000 after acquiring an additional 1,105 shares during the period. Ancora Advisors LLC boosted its stake in NuScale Power by 177,500.0% during the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the company’s stock worth $64,000 after acquiring an additional 1,775 shares during the last quarter. Vermillion & White Wealth Management Group LLC boosted its stake in NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after acquiring an additional 1,675 shares during the last quarter. Finally, Monimus Capital Management LP acquired a new position in NuScale Power during the second quarter valued at approximately $72,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on SMR shares. Barclays lowered their price target on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Truist Financial began coverage on NuScale Power in a research note on Monday, July 13th. They issued a “hold” rating and a $10.00 target price for the company. 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 target on the stock. HSBC began coverage on NuScale Power in a report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective for the company. Finally, Northland Securities set a $19.00 target price on shares of NuScale Power in a research report on Monday, May 11th. One 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $15.15.

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.