FY2024 Earnings Estimate for NuScale Power Co. Issued By B. Riley (NYSE:SMR)

NuScale Power Co. (NYSE:SMR) – Research analysts at B. Riley dropped their FY2024 EPS estimates for shares of NuScale Power in a report issued on Tuesday, April 30th. B. Riley analyst R. Pfingst now expects that the company will post earnings per share of ($0.64) for the year, down from their prior estimate of ($0.41). The consensus estimate for NuScale Power’s current full-year earnings is ($0.41) per share. B. Riley also issued estimates for NuScale Power’s FY2026 earnings at ($0.11) EPS and FY2027 earnings at $0.12 EPS.

Several other brokerages also recently issued reports on SMR. Canaccord Genuity Group lifted their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Canaccord Genuity Group began coverage on NuScale Power in a research report on Monday, January 29th. They set a “buy” rating and a $4.25 price objective for the company. UBS Group lifted their target price on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 target price (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, NuScale Power has an average rating of “Hold” and a consensus target price of $7.75.

NuScale Power Stock Performance

Shares of NuScale Power stock opened at $5.75 on Thursday. NuScale Power has a 1 year low of $1.81 and a 1 year high of $11.21. The business has a 50 day moving average price of $5.13 and a 200 day moving average price of $3.74.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. The company had revenue of $4.56 million for the quarter, compared to analyst estimates of $1.75 million.

Institutional Trading of NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its holdings in NuScale Power by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company’s stock worth $728,000 after buying an additional 2,844 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at about $25,000. Evanson Asset Management LLC raised its stake in shares of NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after purchasing an additional 7,986 shares in the last quarter. Swiss National Bank raised its stake in shares of NuScale Power by 17.2% in the 3rd quarter. Swiss National Bank now owns 62,600 shares of the company’s stock valued at $307,000 after purchasing an additional 9,200 shares in the last quarter. Finally, Essex Private Wealth Management LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at about $33,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.96% of the company’s stock.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.