NuScale Power (NYSE:SMR) Hits New 12-Month High - Here's Why

Key Points

• NuScale Power's stock reached a new 12-month high of $54.22, a significant increase from its previous close of $45.79, with over 12.7 million shares traded.
• Analysts have mixed views on NuScale Power, with 3 Buy ratings, 10 Hold ratings, and 2 Sell ratings, leading to an average target price of $36.67.
• The company reported a quarterly loss of ($0.13) per share, missing estimates, and a revenue of $8.05 million, below the forecast of $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $54.22 and last traded at $53.49, with a volume of 12793563 shares traded. The stock had previously closed at $45.79.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SMR shares. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. BNP Paribas Exane started coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of NuScale Power in a research note on Wednesday, October 8th. Northland Securities initiated coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price target on the stock. Finally, Royal Bank Of Canada started coverage on shares of NuScale Power in a research report on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price objective on the stock. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $36.67.

NuScale Power Stock Up 14.2%

The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of -44.69 and a beta of 2.02. The business has a 50-day simple moving average of $37.99 and a two-hundred day simple moving average of $32.72.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the company's stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 15,048,847 shares of company stock valued at $606,761,579 in the last three months. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after acquiring an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock valued at $112,944,000 after acquiring an additional 574,295 shares during the last quarter. State Street Corp raised its stake in NuScale Power by 37.5% during the 2nd quarter. State Street Corp now owns 2,736,187 shares of the company's stock valued at $108,244,000 after purchasing an additional 746,667 shares during the period. Finally, Swedbank AB raised its stake in NuScale Power by 6.7% during the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company's stock valued at $34,014,000 after purchasing an additional 149,875 shares during the period. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.

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