NuScale Power (NYSE:SMR) Trading Up 1.8% Following Analyst Upgrade

Shares of NuScale Power Corporation (NYSE:SMR) were up 1.8% during mid-day trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $17.25 and last traded at $16.3550. Approximately 24,359,706 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 15,280,537 shares. The stock had previously closed at $16.07.

Several other research analysts also recently weighed in on the stock. Citigroup reissued a “sell” rating and issued a $37.50 target price (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. The Goldman Sachs Group lowered their price objective on shares of NuScale Power from $27.00 to $23.00 and set a “neutral” rating on the stock in a research report on Friday, December 12th. Cantor Fitzgerald initiated coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 target price on the stock. BNP Paribas Exane cut NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Monday. Four research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $35.18.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,156,666 shares of company stock valued at $277,733,990. 1.20% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Triumph Capital Management acquired a new position in shares of NuScale Power during the third quarter worth approximately $37,000. Allworth Financial LP increased its position in NuScale Power by 7.8% during the third quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock worth $378,000 after acquiring an additional 758 shares during the period. IFP Advisors Inc raised its stake in NuScale Power by 128.3% during the 3rd quarter. IFP Advisors Inc now owns 3,984 shares of the company’s stock valued at $143,000 after purchasing an additional 2,239 shares during the last quarter. Cantor Fitzgerald L. P. boosted its holdings in NuScale Power by 78.3% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 13,284 shares of the company’s stock valued at $478,000 after purchasing an additional 5,834 shares during the period. Finally, Strategic Advocates LLC acquired a new stake in NuScale Power in the 3rd quarter worth $25,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Trading Up 1.0%

The firm’s fifty day moving average price is $26.62 and its 200-day moving average price is $35.20. The company has a market cap of $4.81 billion, a P/E ratio of -5.64 and a beta of 2.09.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The firm had revenue of $8.24 million for the quarter, compared to analyst estimates of $11.29 million. During the same period last year, the business earned ($0.18) earnings per share. The firm’s quarterly revenue was up 1635.2% compared to the same quarter last year. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

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.