NuScale Power (NYSE:SMR) Trading 1.6% Higher – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) were up 1.6% during trading on Monday . The company traded as high as $10.52 and last traded at $10.2650. 20,577,958 shares were traded during trading, a decline of 33% from the average session volume of 30,784,131 shares. The stock had previously closed at $10.10.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SMR. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday. UBS Group reduced their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Citigroup reduced their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research note on Monday, May 11th. Finally, HSBC started coverage on shares of NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $15.92.

NuScale Power Trading Up 1.6%

The company has a market cap of $3.75 billion, a PE ratio of -3.52 and a beta of 2.20. The company has a fifty day simple moving average of $11.56 and a two-hundred day simple moving average of $13.73.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The firm had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business’s revenue for the quarter was down 95.8% on a year-over-year basis. On average, research analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $12.07, for a total value of $162,945,000.00. Following the transaction, the director directly owned 26,436,472 shares of the company’s stock, valued at $319,088,217.04. This trade represents a 33.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 39,936,472 shares of company stock valued at $472,831,169. Company insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently modified their holdings of the company. Van ECK Associates Corp raised its stake in NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of NuScale Power in the 1st quarter valued at approximately $59,141,000. Vanguard Group Inc. increased its holdings in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the period. Clear Street Group Inc. purchased a new stake in shares of NuScale Power during the third quarter worth approximately $155,616,000. Finally, Voloridge Investment Management LLC acquired a new stake in shares of NuScale Power during the fourth quarter worth $48,993,000. 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.