NuScale Power (NYSE:SMR) Trading 8% Higher – Here’s Why

NuScale Power Corporation (NYSE:SMRGet Free Report) shares traded up 8% during mid-day trading on Monday . The stock traded as high as $11.25 and last traded at $10.6790. 36,413,149 shares were traded during trading, an increase of 20% from the average session volume of 30,271,869 shares. The stock had previously closed at $9.89.

Trending Headlines about NuScale Power

Here are the key news stories impacting NuScale Power this week:

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. HSBC assumed coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 target price on the stock. UBS Group decreased their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Citigroup reduced their price target on NuScale Power from $9.00 to $7.00 and set a “sell” rating on the stock in a research report on Monday, May 11th. Barclays reduced their price target on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research report on Monday, February 23rd. Finally, Northland Securities set a $19.00 price target on NuScale Power in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $15.92.

Get Our Latest Stock Analysis on SMR

NuScale Power Trading Up 4.8%

The firm has a market cap of $3.79 billion, a PE ratio of -3.55 and a beta of 2.20. The business has a fifty day moving average price of $11.43 and a 200 day moving average price of $14.20.

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

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the transaction, the director owned 26,436,472 shares in the company, 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 available through the SEC website. In the last quarter, insiders 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

A number of hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in NuScale Power by 1.8% during the 1st quarter. Parallel Advisors LLC now owns 59,898 shares of the company’s stock worth $649,000 after buying an additional 1,053 shares during the last quarter. NewEdge Advisors LLC grew its stake in NuScale Power by 109.3% during the 1st quarter. NewEdge Advisors LLC now owns 48,430 shares of the company’s stock worth $525,000 after buying an additional 25,293 shares during the last quarter. Concorde Asset Management LLC grew its stake in NuScale Power by 9.8% during the 1st quarter. Concorde Asset Management LLC now owns 12,390 shares of the company’s stock worth $134,000 after buying an additional 1,110 shares during the last quarter. Verus Capital Partners LLC purchased a new position in NuScale Power during the 1st quarter worth approximately $175,000. Finally, BankChampaign National Association purchased a new position in NuScale Power during the 1st quarter worth approximately $178,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

(Get Free Report)

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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