NuScale Power Corporation (NYSE:SMR – Get Free Report) rose 8.1% on Tuesday . The company traded as high as $13.40 and last traded at $13.9510. Approximately 41,354,963 shares changed hands during mid-day trading, an increase of 34% from the average daily volume of 30,765,722 shares. The stock had previously closed at $12.9090.
Analyst Upgrades and Downgrades
A number of brokerages have commented on SMR. Cantor Fitzgerald cut their price target on shares of NuScale Power from $55.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. B. Riley Financial cut their price objective on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. Canaccord Genuity Group cut their price objective on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Finally, HSBC assumed coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.92.
Check Out Our Latest Stock Analysis on SMR
NuScale Power Trading Down 11.7%
NuScale Power (NYSE:SMR – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $7.00 million. The business’s quarterly revenue was down 95.8% on a year-over-year basis. Research analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.
Insider Activity
In other news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last ninety days, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Company insiders own 1.28% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter valued at approximately $25,000. Nemes Rush Group LLC purchased a new position in NuScale Power in the 3rd quarter valued at approximately $25,000. Accredited Wealth Management LLC purchased a new position in NuScale Power in the 3rd quarter valued at approximately $35,000. Triumph Capital Management purchased a new position in NuScale Power in the 3rd quarter valued at approximately $37,000. Finally, Ameritas Advisory Services LLC grew its stake in NuScale Power by 292.9% in the 3rd quarter. Ameritas Advisory Services LLC now owns 1,100 shares of the company’s stock valued at $40,000 after buying an additional 820 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other 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.
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