Short Interest in NuScale Power Corporation (NYSE:SMR) Grows By 23.9%

NuScale Power Corporation (NYSE:SMR) was the recipient of a large increase in short interest in the month of April. As of April 15th, there was short interest totaling 66,321,822 shares, an increase of 23.9% from the March 31st total of 53,538,902 shares. Based on an average trading volume of 29,933,083 shares, the short-interest ratio is currently 2.2 days. Approximately 19.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of analyst reports. Barclays reduced their price objective on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. The Goldman Sachs Group cut their price target 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. Northland Securities upgraded shares of NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, February 27th. HSBC started coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. Finally, Zacks Research upgraded shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, NuScale Power presently has an average rating of “Hold” and a consensus target price of $19.77.

NuScale Power Trading Down 2.4%

NYSE SMR traded down $0.31 during trading on Friday, hitting $12.16. 20,432,222 shares of the company’s stock were exchanged, compared to its average volume of 36,999,040. The company has a market cap of $4.11 billion, a PE ratio of -4.21 and a beta of 2.24. The stock’s 50 day moving average price is $11.66 and its two-hundred day moving average price is $19.23. NuScale Power has a fifty-two week low of $8.85 and a fifty-two week high of $57.42.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, February 26th. The company reported ($0.80) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.70). The company had revenue of $1.81 million during the quarter, compared to analyst estimates of $8.76 million. NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. Analysts forecast that NuScale Power will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Clayton Scott sold 22,478 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total transaction of $274,681.16. Following the sale, the insider directly owned 132,852 shares of the company’s stock, valued at approximately $1,623,451.44. This represents a 14.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 25,951 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total value of $317,121.22. Following the completion of the transaction, the chief technology officer owned 268,081 shares in the company, valued at $3,275,949.82. The trade was a 8.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 40,572,082 shares of company stock worth $481,029,608. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH acquired a new stake in NuScale Power in the third quarter valued at $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in NuScale Power by 686.9% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company’s stock worth $6,646,000 after buying an additional 161,149 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NuScale Power by 103.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company’s stock valued at $21,940,000 after buying an additional 309,810 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $2,350,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after buying an additional 1,346,796 shares during the period. Institutional investors own 78.37% of the company’s stock.

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.