NuScale Power Corporation (NYSE:SMR – Get Free Report)’s stock price shot up 3.1% on Monday . The stock traded as high as $8.08 and last traded at $7.96. Approximately 36,278,098 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 30,302,018 shares. The stock had previously closed at $7.72.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on SMR. Truist Financial assumed coverage on NuScale Power in a report on Monday, July 13th. They set a “hold” rating and a $10.00 target price on the stock. 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 note on Friday, April 24th. Bank of America started coverage on shares of NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target on the stock. Citigroup decreased their price objective 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. Finally, Northland Securities set a $19.00 target price on shares of NuScale Power in a research note on Monday, May 11th. One 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 assigned a Sell rating to the stock. According to data from MarketBeat, NuScale Power presently has an average rating of “Hold” and an average target price of $15.46.
Read Our Latest Stock Analysis on NuScale Power
NuScale Power Stock Performance
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 for the quarter, missing the consensus estimate 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 company had revenue of $0.56 million during the quarter, compared to analyst estimates of $7.00 million. The company’s revenue was down 95.8% compared to the same quarter last year. Analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.28% of the company’s stock.
Hedge Funds Weigh In On NuScale Power
A number of large investors have recently added to or reduced their stakes in SMR. Heck Capital Advisors LLC raised its stake in shares of NuScale Power by 33.5% in the 2nd quarter. Heck Capital Advisors LLC now owns 16,382 shares of the company’s stock valued at $164,000 after purchasing an additional 4,115 shares during the period. Handelsbanken Fonder AB boosted its position in shares of NuScale Power by 209.5% during the second quarter. Handelsbanken Fonder AB now owns 108,000 shares of the company’s stock worth $1,083,000 after buying an additional 73,100 shares during the period. Adamsbrown Wealth Consultants LLC bought a new position in shares of NuScale Power during the second quarter worth about $100,000. Hennion & Walsh Asset Management Inc. grew its holdings in shares of NuScale Power by 30.5% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 84,199 shares of the company’s stock worth $845,000 after buying an additional 19,679 shares in the last quarter. Finally, Evanson Financial LLC acquired a new stake in NuScale Power in the 2nd quarter valued at approximately $512,000. Institutional investors own 78.37% of the company’s stock.
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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