NuScale Power (NYSE:SMR) Trading Up 4% – Here’s Why

NuScale Power Corporation (NYSE:SMR) was up 4% during trading on Wednesday . The company traded as high as $9.65 and last traded at $9.5750. Approximately 27,434,439 shares changed hands during mid-day trading, a decline of 11% from the average daily volume of 30,824,488 shares. The stock had previously closed at $9.21.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SMR. Northland Securities set a $16.00 target price on shares of NuScale Power in a research report on Thursday, August 6th. Bank of America started coverage on shares of NuScale Power in a research note on Friday, May 22nd. They set a “neutral” rating and a $12.00 price objective for the company. Barclays cut their price objective on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Citigroup reduced their target price on NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a research note on Thursday, August 6th. Finally, The Goldman Sachs Group set a $9.00 target price on NuScale Power in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, NuScale Power has a consensus rating of “Hold” and a consensus target price of $13.50.

NuScale Power Stock Up 1.9%

The firm’s 50 day moving average is $9.12 and its 200-day moving average is $10.77. The firm has a market cap of $4.19 billion, a PE ratio of -3.34 and a beta of 2.30.

NuScale Power (NYSE:SMR) last released its earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm had revenue of $0.07 million during the quarter, compared to analysts’ expectations of $8.80 million. During the same period in the previous year, the company earned ($0.11) EPS. NuScale Power’s revenue for the quarter was down 99.1% on a year-over-year basis. On average, analysts forecast that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Insider Activity

In related news, Director Shinji Fujino sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares in the company, valued at approximately $152,764.12. This represents a 53.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert Hamady sold 29,880 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $9.39, for a total value of $280,573.20. Following the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 68,651 shares of company stock valued at $633,470 over the last quarter. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in NuScale Power during the 1st quarter worth $59,141,000. Bank of America Corp DE increased its position in shares of NuScale Power by 33.4% during the first quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock worth $22,355,000 after acquiring an additional 516,097 shares during the last quarter. Swedbank AB lifted its stake in shares of NuScale Power by 36.3% in the first quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock worth $16,285,000 after acquiring an additional 400,240 shares in the last quarter. Caz Investments LP boosted its holdings in NuScale Power by 10,000.0% in the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock valued at $1,431,000 after purchasing an additional 100,000 shares during the last quarter. Finally, Seven Grand Managers LLC purchased a new position in NuScale Power in the fourth quarter valued at about $1,771,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.