NuScale Power (NYSE:SMR) Stock Price Up 14.8% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR)’s share price was up 14.8% on Monday . The stock traded as high as $19.55 and last traded at $18.7230. Approximately 66,908,139 shares changed hands during mid-day trading, an increase of 37% from the average daily volume of 48,977,906 shares. The stock had previously closed at $16.31.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMR. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Wall Street Zen cut shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Citigroup reaffirmed a “sell” rating and issued a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Barclays started coverage on shares of NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price for the company. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $35.18.

NuScale Power Trading Up 14.8%

The business has a fifty day moving average of $23.01 and a 200-day moving average of $33.99. The company has a market cap of $5.59 billion, a PE ratio of -6.55 and a beta of 2.12.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The business had revenue of $8.24 million during the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm’s revenue was up 1635.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.18) earnings per share. As a group, research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, Director Corp Fluor sold 820,861 shares of the business’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $40.68, for a total transaction of $33,392,625.48. Following the transaction, the director directly owned 87,900 shares in the company, valued at $3,575,772. The trade was a 90.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 948,761 shares of company stock worth $37,758,507. Corporate insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Strategic Advocates LLC purchased a new position in shares of NuScale Power during the third quarter valued at $25,000. CX Institutional bought a new stake in NuScale Power in the third quarter valued at approximately $25,000. Nemes Rush Group LLC bought a new position in NuScale Power during the third quarter worth $25,000. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after acquiring an additional 359 shares during the period. Finally, Indiana Trust & Investment Management Co bought a new stake in NuScale Power in the third quarter worth approximately $34,000. 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.