NuScale Power (NYSE:SMR) Trading 3.3% Higher – Here’s Why

NuScale Power Corporation (NYSE:SMR) shares traded up 3.3% on Friday . The company traded as high as $10.30 and last traded at $9.8850. 30,873,737 shares changed hands during trading, an increase of 2% from the average session volume of 30,214,977 shares. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Barclays lowered their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a report on Monday, February 23rd. B. Riley Financial reduced their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 24th. Zacks Research upgraded NuScale Power from a “strong sell” rating to a “hold” rating in a report on Friday, February 20th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Friday, March 27th. Finally, Royal Bank Of Canada reduced their price target on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Price Performance

The company has a market capitalization of $3.61 billion, a P/E ratio of -3.39 and a beta of 2.20. The company’s 50-day moving average price is $11.42 and its two-hundred day moving average price is $14.42.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $0.57 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. NuScale Power’s revenue was down 95.8% compared to the same quarter last year. On average, analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction dated 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 represents a 33.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 39,936,472 shares of company stock valued at $472,831,169 over the last 90 days. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its position in shares of NuScale Power by 1.8% in the first quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock valued at $649,000 after purchasing an additional 1,053 shares during the period. NewEdge Advisors LLC increased its holdings in shares of NuScale Power by 109.3% during the first quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock worth $525,000 after purchasing an additional 25,293 shares during the period. Concorde Asset Management LLC increased its holdings in shares of NuScale Power by 9.8% during the first quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock worth $134,000 after purchasing an additional 1,110 shares during the period. Verus Capital Partners LLC bought a new position in shares of NuScale Power during the first quarter worth approximately $175,000. Finally, BankChampaign National Association bought a new position in shares of NuScale Power during the first quarter worth approximately $178,000. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

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.