NuScale Power (NYSE:SMR) Stock Price Up 10.1% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price traded up 10.1% during trading on Thursday . The company traded as high as $9.18 and last traded at $9.1350. Approximately 20,390,593 shares traded hands during trading, a decline of 35% from the average daily volume of 31,184,561 shares. The stock had previously closed at $8.30.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Citigroup dropped their target price on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a report on Thursday, August 6th. Bank of America began coverage on NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price objective for the company. Northland Securities set a $16.00 target price on NuScale Power in a report on Thursday, August 6th. B. Riley Financial dropped their price objective on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating on the stock in a report on Friday, August 14th. Finally, Barclays dropped their price objective 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. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.96.

NuScale Power Stock Performance

The company has a market cap of $3.85 billion, a P/E ratio of -3.08 and a beta of 2.30. The stock has a 50-day moving average of $9.07 and a two-hundred day moving average of $10.50.

NuScale Power (NYSE:SMR) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting analysts’ consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $8.80 million. During the same period in the prior year, the firm posted ($0.11) earnings per share. The company’s quarterly revenue was down 99.1% on a year-over-year basis. Research analysts predict that NuScale Power Corporation will post -0.64 EPS for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the sale, the chief operating officer owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. The trade was a 14.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Hamady sold 29,880 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the transaction, the chief financial officer directly owned 124,235 shares in the company, valued at approximately $1,166,566.65. The trade was a 19.39% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 68,651 shares of company stock valued at $633,470. 1.28% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new stake in shares of NuScale Power during the second quarter valued at approximately $126,000. WINTON GROUP Ltd acquired a new stake in NuScale Power in the second quarter worth about $392,000. Integrated Wealth Concepts LLC grew its position in NuScale Power by 153.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company’s stock worth $658,000 after purchasing an additional 39,751 shares during the last quarter. RFG Advisory LLC increased its position in shares of NuScale Power by 33.1% in the 2nd quarter. RFG Advisory LLC now owns 60,622 shares of the company’s stock valued at $608,000 after acquiring an additional 15,092 shares during the period. Finally, NewEdge Advisors LLC lifted its holdings in shares of NuScale Power by 203.3% during the second quarter. NewEdge Advisors LLC now owns 146,870 shares of the company’s stock worth $1,473,000 after purchasing an additional 98,440 shares during the period. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and other energy applications. Its proprietary NuScale Power Module is a compact, factory-fabricated pressurized water reactor designed to be deployed individually or in multi-module configurations. The company’s technology is intended to support electric utilities, industrial users, and other customers seeking scalable alternatives for reliable power generation.

NuScale offers its reactor technology through the VOYGR power plant platform, along with engineering, licensing, project development, and deployment support.