NuScale Power (NYSE:SMR) Posts Earnings Results, Beats Expectations By $0.06 EPS

NuScale Power (NYSE:SMR) announced its quarterly earnings results on Monday. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06, Zacks reports. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%.

NuScale Power Price Performance

NYSE:SMR traded up $0.50 during trading hours on Monday, hitting $17.95. 9,974,486 shares of the stock traded hands, compared to its average volume of 8,447,847. The company has a market cap of $5.07 billion, a price-to-earnings ratio of -18.90 and a beta of 1.62. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. NuScale Power has a 1 year low of $5.86 and a 1 year high of $32.30. The stock has a 50 day moving average price of $16.01 and a 200 day moving average price of $20.14.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total transaction of $589,475.00. Following the sale, the chief executive officer now owns 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Clayton Scott sold 10,019 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the sale, the insider now owns 86,965 shares in the company, valued at $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,047 shares of company stock worth $2,514,898 over the last quarter. Insiders own 1.27% of the company’s stock.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. BTIG Research initiated coverage on shares of NuScale Power in a report on Friday, April 11th. They issued a “buy” rating and a $20.00 price objective on the stock. UBS Group dropped their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $16.60.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.