NuScale Power (NYSE:SMR) Shares Up 1.2% – Here’s What Happened

NuScale Power Corporation (NYSE:SMRGet Free Report)’s stock price was up 1.2% during mid-day trading on Monday . The company traded as high as $12.90 and last traded at $12.8070. Approximately 34,595,869 shares changed hands during trading, an increase of 26% from the average daily volume of 27,443,102 shares. The stock had previously closed at $12.65.

More NuScale Power News

Here are the key news stories impacting NuScale Power this week:

Analysts Set New Price Targets

A number of research analysts recently issued reports on SMR shares. TD Cowen lowered NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Zacks Research upgraded shares of NuScale Power from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada reduced their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. The Goldman Sachs Group reduced their target price on shares of NuScale Power from $20.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, March 2nd. Finally, Cantor Fitzgerald reduced their target price on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $20.96.

View Our Latest Stock Analysis on SMR

NuScale Power Price Performance

The firm has a market capitalization of $4.33 billion, a PE ratio of -4.43 and a beta of 2.27. The firm has a fifty day moving average price of $12.15 and a 200 day moving average price of $20.68.

NuScale Power (NYSE:SMRGet Free Report) last announced its earnings results on Thursday, February 26th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate 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. On average, sell-side analysts expect that NuScale Power Corporation will post -0.48 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 82,667 shares of the business’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 transaction of $1,010,190.74. Following the sale, the chief executive officer owned 117,018 shares in the company, valued at $1,429,959.96. The trade was a 41.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Corp Fluor sold 12,936,472 shares of NuScale Power stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $11.63, for a total value of $150,451,169.36. Following the transaction, the director owned 13,500,000 shares in the company, valued at $157,005,000. This represents a 48.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 27,072,082 shares of company stock valued at $321,594,608 over the last three months. 1.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. RFG Advisory LLC grew its holdings in shares of NuScale Power by 6.9% during the first quarter. RFG Advisory LLC now owns 45,530 shares of the company’s stock valued at $494,000 after buying an additional 2,935 shares in the last quarter. Keudell Morrison Wealth Management purchased a new position in shares of NuScale Power during the first quarter valued at $118,000. AdvisorNet Financial Inc grew its holdings in shares of NuScale Power by 299.3% during the first quarter. AdvisorNet Financial Inc now owns 10,494 shares of the company’s stock valued at $114,000 after buying an additional 7,866 shares in the last quarter. James J. Burns & Company LLC acquired a new stake in shares of NuScale Power during the first quarter worth approximately $109,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of NuScale Power by 349.7% during the fourth quarter. Hsbc Holdings PLC now owns 76,415 shares of the company’s stock worth $1,074,000 after purchasing an additional 59,422 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

(Get Free Report)

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.

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