NuScale Power Corporation (NYSE:SMR) Short Interest Update

NuScale Power Corporation (NYSE:SMR) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 66,321,822 shares, a growth of 23.9% from the March 31st total of 53,538,902 shares. Based on an average daily volume of 29,933,083 shares, the short-interest ratio is presently 2.2 days. Currently, 19.9% of the company’s stock are sold short.

NuScale Power Trading Down 2.4%

Shares of NYSE SMR traded down $0.31 during midday trading on Friday, reaching $12.16. The company had a trading volume of 20,432,222 shares, compared to its average volume of 36,999,040. NuScale Power has a 1 year low of $8.85 and a 1 year high of $57.42. The business’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $19.23. The stock has a market cap of $4.11 billion, a P/E ratio of -4.21 and a beta of 2.24.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. The company had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $8.76 million. Analysts predict that NuScale Power will post -0.44 earnings per share for the current year.

Insider Transactions at NuScale Power

In other news, CEO John Lawrence Hopkins sold 82,667 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $1,010,190.74. Following the completion of the sale, the chief executive officer owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. This represents a 41.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton Scott sold 22,478 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total transaction of $274,681.16. Following the completion of the sale, the insider directly owned 132,852 shares of the company’s stock, valued at $1,623,451.44. The trade was a 14.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 40,572,082 shares of company stock worth $481,029,608. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH acquired a new position in NuScale Power in the third quarter valued at $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of NuScale Power by 686.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company’s stock valued at $6,646,000 after purchasing an additional 161,149 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of NuScale Power by 103.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company’s stock valued at $21,940,000 after purchasing an additional 309,810 shares in the last quarter. Lisanti Capital Growth LLC purchased a new stake in shares of NuScale Power in the third quarter valued at about $2,350,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after buying an additional 1,346,796 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of analyst reports. Northland Securities raised shares of NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, February 27th. Barclays decreased their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Texas Capital raised shares of NuScale Power to a “strong-buy” rating in a research report on Tuesday, January 27th. Bank of America raised shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a research report on Friday, January 9th. Finally, HSBC initiated coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $19.77.

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.