NuScale Power Corporation (NYSE:SMR – Get Free Report)’s stock price traded up 3.3% during trading on Tuesday . The company traded as high as $8.69 and last traded at $8.6250. Approximately 23,761,437 shares changed hands during trading, a decline of 22% from the average daily volume of 30,378,801 shares. The stock had previously closed at $8.35.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Truist Financial started coverage on shares of NuScale Power in a research note on Monday. They set a “hold” rating and a $10.00 price objective for the company. Citigroup dropped their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. B. Riley Financial lowered their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Finally, HSBC initiated coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $15.46.
View Our Latest Analysis on SMR
NuScale Power Trading Up 3.3%
NuScale Power (NYSE:SMR – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% compared to the same quarter last year. As a group, analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.
Insider Buying and Selling at NuScale Power
In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.28% of the company’s stock.
Institutional Investors Weigh In On NuScale Power
Hedge funds have recently made changes to their positions in the company. Strategic Advocates LLC purchased a new stake in NuScale Power in the third quarter worth $25,000. Triumph Capital Management purchased a new position in NuScale Power during the third quarter valued at $37,000. EverSource Wealth Advisors LLC lifted its position in NuScale Power by 187.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock valued at $67,000 after buying an additional 1,105 shares during the period. Ancora Advisors LLC boosted its holdings in shares of NuScale Power by 177,500.0% during the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the company’s stock valued at $64,000 after buying an additional 1,775 shares in the last quarter. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after buying an additional 1,675 shares in the last quarter. 78.37% of the stock is currently 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.
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