Free Trial

NuScale Power (NYSE:SMR) Shares Up 1.2% - Here's What Happened

NuScale Power logo with Computer and Technology background
Image from MarketBeat Media, LLC.

Key Points

  • Multiple class-action lawsuits have been filed or solicited against NuScale, including allegations challenging disclosures about ENTRA1, increasing potential litigation costs and investor uncertainty.
  • Heavy insider selling has occurred—Director Corp Fluor sold about 12.94M shares (nearly a 49% reduction) and insiders sold ~27.07M shares (~$321.6M) over 90 days—while the stock rose 1.2% on Monday on volume ~26% above average.
  • Weak results and mixed analyst outlook: NuScale missed quarterly EPS expectations (-$0.80 vs. -$0.10), has negative margins and low revenue, and analysts have cut price targets leaving a consensus "Hold" with an average target of $20.96.
  • Five stocks to consider instead of NuScale Power.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price shot up 1.2% during trading on Monday . The stock traded as high as $12.90 and last traded at $12.8070. 34,595,869 shares were traded during trading, an increase of 26% from the average session volume of 27,443,102 shares. The stock had previously closed at $12.65.

Trending Headlines about NuScale Power

Here are the key news stories impacting NuScale Power this week:

Analyst Ratings Changes

Several analysts recently issued reports on the company. Canaccord Genuity Group cut their price target on NuScale Power from $60.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, February 27th. B. Riley Financial cut their price target on NuScale Power from $38.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, December 22nd. Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a report on Friday, March 27th. Texas Capital raised NuScale Power to a "strong-buy" rating in a report on Tuesday, January 27th. Finally, Bank of America raised shares of NuScale Power from an "underperform" rating to a "neutral" rating and set a $28.00 price objective on the stock in a report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, NuScale Power presently has an average rating of "Hold" and an average price target of $20.96.

Check Out Our Latest Report on NuScale Power

NuScale Power Stock Performance

The firm has a market capitalization of $4.33 billion, a P/E ratio of -4.43 and a beta of 2.27. The business has a fifty day moving average of $12.15 and a 200-day moving average of $20.68.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The business had revenue of $1.81 million during the quarter, compared to the consensus estimate of $8.76 million. On average, equities research analysts forecast that NuScale Power Corporation will post -0.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Corp Fluor sold 12,936,472 shares of the company's stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $11.63, for a total value of $150,451,169.36. Following the completion of the sale, the director owned 13,500,000 shares of the company's stock, valued at $157,005,000. This represents a 48.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 82,667 shares of the company's stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the sale, the chief executive officer directly owned 117,018 shares of the company's stock, valued at $1,429,959.96. The trade was a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 27,072,082 shares of company stock valued at $321,594,608. Corporate insiders own 1.20% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC bought a new stake in NuScale Power during the third quarter worth approximately $25,000. CX Institutional bought a new stake in NuScale Power during the third quarter worth approximately $25,000. Nemes Rush Group LLC bought a new stake in NuScale Power during the third quarter worth approximately $25,000. Indiana Trust & Investment Management Co acquired a new position in NuScale Power during the third quarter worth about $34,000. Finally, Accredited Wealth Management LLC acquired a new position in NuScale Power during the third quarter worth about $35,000. Institutional investors own 78.37% of the company's stock.

About NuScale Power

(Get Free Report)

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.

Featured Articles

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in NuScale Power Right Now?

Before you consider NuScale Power, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NuScale Power wasn't on the list.

While NuScale Power currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Beginner's Guide To Retirement Stocks Cover

Click the link to see MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Related Videos

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines