NuScale Power (NYSE:SMR) Posts Quarterly Earnings Results, Hits Estimates

Key Points

• NuScale Power met earnings expectations with quarterly EPS of negative $0.13, but revenue of just $0.07 million fell far short of the $8.80 million consensus estimate. The company reported a negative net margin of 2,066.55%.
• Shares fell to $9.42 during Wednesday trading and remain well below their 52-week high of $57.42. NuScale has a $3.44 billion market capitalization, while institutional investors and hedge funds own 78.37% of the stock.
• Analyst sentiment is mixed but centers on a “Hold” rating, with an average price target of $15.15. Targets range from $9 to $19, including a “Buy” rating from B. Riley and a “Neutral” rating from Bank of America.

NuScale Power (NYSE:SMR - Get Free Report) issued its quarterly earnings data on Wednesday. The company reported ($0.13) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.13), FiscalAI reports. 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 $0.07 million during the quarter, compared to the consensus estimate of $8.80 million.

NuScale Power Price Performance

NuScale Power stock traded down $0.07 during mid-day trading on Wednesday, hitting $9.42. 30,593,988 shares of the company's stock traded hands, compared to its average volume of 30,417,848. The firm has a 50 day simple moving average of $9.86 and a two-hundred day simple moving average of $12.08. NuScale Power has a fifty-two week low of $7.21 and a fifty-two week high of $57.42. The stock has a market cap of $3.44 billion, a price-to-earnings ratio of -3.23 and a beta of 2.26.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Arax Advisory Partners lifted its stake in shares of NuScale Power by 26.0% during the 4th quarter. Arax Advisory Partners now owns 3,739 shares of the company's stock worth $53,000 after buying an additional 772 shares during the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in shares of NuScale Power by 7.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 14,270 shares of the company's stock worth $514,000 after buying an additional 1,015 shares during the period. Triumph Capital Management acquired a new position in NuScale Power in the 3rd quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in NuScale Power by 187.6% in the 2nd 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 last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in NuScale Power by 72.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 3,289 shares of the company's stock valued at $118,000 after acquiring an additional 1,384 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on SMR shares. Weiss Ratings restated a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. Northland Securities set a $19.00 price target on NuScale Power in a research report on Monday, May 11th. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a report on Friday, May 8th. B. Riley Financial reduced their target price on shares of NuScale Power from $24.00 to $19.00 and set a "buy" rating for the company in a report on Friday, April 24th. Finally, Bank of America assumed coverage on shares of NuScale Power in a research note on Friday, May 22nd. They issued a "neutral" rating and a $12.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $15.15.

About NuScale Power

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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