NuScale Power (NYSE:SMR) Trading 9.4% Higher – Here’s What Happened

Shares of NuScale Power Corporation (NYSE:SMR) shot up 9.4% during trading on Tuesday . The company traded as high as $8.74 and last traded at $8.71. Approximately 35,903,729 shares traded hands during trading, an increase of 18% from the average session volume of 30,306,785 shares. The stock had previously closed at $7.96.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SMR shares. Truist Financial assumed coverage on NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 price objective on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. B. Riley Financial dropped their target price on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Bank of America assumed coverage on shares of NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Finally, Northland Securities set a $19.00 price target 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 issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $15.46.

NuScale Power Price Performance

The business has a fifty day moving average of $10.47 and a 200 day moving average of $12.83. The stock has a market cap of $3.18 billion, a PE ratio of -2.98 and a beta of 2.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm’s revenue was down 95.8% compared to the same quarter last year. On average, equities research analysts expect that NuScale Power Corporation will post -0.46 EPS for the current year.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. Heck Capital Advisors LLC grew its holdings in shares of NuScale Power by 33.5% during the second quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock valued at $164,000 after purchasing an additional 4,115 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of NuScale Power by 209.5% in the 2nd quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock worth $1,083,000 after purchasing an additional 73,100 shares during the last quarter. Adamsbrown Wealth Consultants LLC acquired a new position in NuScale Power during the 2nd quarter valued at approximately $100,000. Hennion & Walsh Asset Management Inc. boosted its position in NuScale Power by 30.5% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock valued at $845,000 after purchasing an additional 19,679 shares during the period. Finally, Evanson Financial LLC bought a new position in NuScale Power during the 2nd quarter worth $512,000. Institutional investors own 78.37% of the company’s stock.

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.