NuScale Power (NYSE:SMR) Shares Up 1.9% - What's Next?

Key Points

• NuScale Power's stock price increased by 1.9%, reaching $40.12, though trading volume decreased significantly by 46% compared to its average daily volume.
• Analysts have mixed ratings for NuScale Power, with a recent upgrade to a "hold" by Northland Capital and a consensus rating of "Hold" alongside an average price target of $33.44.
• The company reported a quarterly loss of ($0.13) earnings per share, falling short of analyst estimates, with revenue of only $8.05 million compared to expectations of $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price rose 1.9% on Monday . The stock traded as high as $40.28 and last traded at $40.12. Approximately 6,294,850 shares changed hands during trading, a decline of 46% from the average daily volume of 11,568,042 shares. The stock had previously closed at $39.35.

Analyst Upgrades and Downgrades

SMR has been the topic of several analyst reports. Canaccord Genuity Group boosted their price target on shares of NuScale Power from $36.00 to $44.00 and gave the stock a "buy" rating in a report on Monday. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Northland Capmk raised shares of NuScale Power to a "hold" rating in a research report on Monday, July 7th. UBS Group reaffirmed a "neutral" rating and issued a $38.00 price objective (up previously from $34.00) on shares of NuScale Power in a research report on Monday. Finally, CLSA set a $41.00 price objective on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, NuScale Power has a consensus rating of "Hold" and an average target price of $34.44.

NuScale Power Stock Up 1.1%

The firm's 50-day moving average price is $40.93 and its 200-day moving average price is $27.06. The company has a market cap of $11.00 billion, a P/E ratio of -32.53 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.86%. The business had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Carl M. Fisher sold 18,206 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer directly owned 90,864 shares in the company, valued at $4,033,452.96. This trade represents a 16.69% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in NuScale Power by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock worth $126,598,000 after acquiring an additional 512,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in 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 worth $96,880,000 after acquiring an additional 1,153,158 shares during the period. Geode Capital Management LLC increased its holdings in NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock worth $112,944,000 after acquiring an additional 574,295 shares during the period. Samsung C&T Corp bought a new stake in NuScale Power during the 4th quarter worth approximately $46,745,000. Finally, Swedbank AB increased its holdings in NuScale Power by 6.7% during the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company's stock worth $34,014,000 after acquiring an additional 149,875 shares during the period. Institutional investors 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.