NuScale Power (NYSE:SMR) Trading Up 1.2% – What’s Next?

NuScale Power Corporation (NYSE:SMR) rose 1.2% on Wednesday . The stock traded as high as $10.56 and last traded at $10.15. Approximately 22,986,358 shares were traded during mid-day trading, a decline of 25% from the average session volume of 30,678,299 shares. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SMR. UBS Group dropped their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. HSBC assumed coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a research note on Friday, May 8th. Northland Securities set a $19.00 target price on shares of NuScale Power in a research report on Monday, May 11th. Finally, Citigroup decreased their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.92.

NuScale Power Price Performance

The firm has a market capitalization of $3.56 billion, a PE ratio of -3.34 and a beta of 2.24. The stock has a 50-day moving average price of $11.40 and a 200-day moving average price of $13.44.

NuScale Power (NYSE:SMR) last issued its quarterly 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). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% compared to the same quarter last year. As a group, equities research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares in the company, valued at approximately $319,088,217.04. This represents a 33.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 39,936,472 shares of company stock valued at $472,831,169. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of NuScale Power by 623.4% in the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after purchasing an additional 394,065 shares during the last quarter. AQR Capital Management LLC grew its stake in NuScale Power by 37.4% in the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock worth $533,000 after purchasing an additional 10,244 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in NuScale Power in the first quarter worth about $390,000. Jones Financial Companies Lllp grew its stake in NuScale Power by 9.1% in the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after purchasing an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after buying an additional 1,705,411 shares during the last quarter. 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.