NuScale Power (NYSE:SMR) Trading 1.9% Higher – Here’s Why

Shares of NuScale Power Corporation (NYSE:SMR) rose 1.9% during trading on Thursday . The company traded as high as $8.92 and last traded at $8.8450. Approximately 29,622,327 shares changed hands during trading, a decline of 3% from the average daily volume of 30,410,730 shares. The stock had previously closed at $8.68.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMR shares. The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. B. Riley Financial lowered their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Barclays cut their target price on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, HSBC started coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.15.

NuScale Power Trading Up 1.9%

The company has a fifty day moving average of $10.34 and a 200-day moving average of $12.76. The stock has a market cap of $3.23 billion, a PE ratio of -3.03 and a beta of 2.24.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.56 million for the quarter, compared to analysts’ expectations 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 business’s revenue for the quarter was down 95.8% on a year-over-year basis. As a group, research analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. lifted its holdings in NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after buying an additional 592 shares in the last quarter. Balboa Wealth Partners lifted its position in shares of NuScale Power by 5.9% during the 4th quarter. Balboa Wealth Partners now owns 13,465 shares of the company’s stock worth $191,000 after purchasing an additional 756 shares during the last quarter. Allworth Financial LP lifted its holdings in NuScale Power by 7.8% during the 3rd quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock worth $378,000 after buying an additional 758 shares during the last quarter. Arax Advisory Partners lifted its stake in NuScale Power by 26.0% during the fourth quarter. Arax Advisory Partners now owns 3,739 shares of the company’s stock worth $53,000 after purchasing an additional 772 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of NuScale Power by 7.7% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 14,270 shares of the company’s stock valued at $514,000 after buying an additional 1,015 shares in the last quarter. Hedge funds and other 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.