NuScale Power (NYSE:SMR) Issues Quarterly Earnings Results

Key Points

• NuScale Power reported an earnings per share (EPS) of ($0.13) for the quarter, missing estimates by ($0.01), while revenue was $8.05 million, below expectations of $10.49 million.
• The company's chief operating officer, Carl M. Fisher, sold 18,206 shares of stock at an average price of $44.39, decreasing his ownership by 16.69%.
• Analysts have a consensus price target of $33.00 for NuScale Power, with an average rating of "Hold" from several research firms.

NuScale Power (NYSE:SMR - Get Free Report) released its earnings results on Thursday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01), Zacks reports. The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%.

NuScale Power Trading Down 2.5%

SMR opened at $44.79 on Friday. The firm's 50 day simple moving average is $40.67 and its two-hundred day simple moving average is $26.89. The company has a market capitalization of $12.74 billion, a PE ratio of -32.69 and a beta of 2.06. NuScale Power has a 1-year low of $6.88 and a 1-year high of $53.50.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the sale, the chief operating officer owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. Company insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Geneos Wealth Management Inc. purchased a new stake in NuScale Power in the 1st quarter worth $60,000. Jones Financial Companies Lllp boosted its stake in NuScale Power by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company's stock valued at $238,000 after buying an additional 1,394 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in NuScale Power in the 1st quarter worth approximately $390,000. AQR Capital Management LLC increased its stake in NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company's stock worth $533,000 after acquiring an additional 10,244 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of NuScale Power by 623.4% during the 1st quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock worth $6,475,000 after acquiring an additional 394,065 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SMR shares. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Citigroup assumed coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target for the company. UBS Group upped their price objective on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Finally, BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Eight research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NuScale Power has an average rating of "Hold" and a consensus price target of $33.00.

About NuScale Power

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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