NuScale Power (NYSE:SMR) Stock Price Up 3.3% - Here's What Happened

Key Points

• NuScale Power shares rose 3.3% on Thursday, trading as high as $9.19 before closing near $9.05, on volume that was below its average daily level.
• Analysts remain cautious on the stock: recent reports included a downgrade from Citigroup to “sell,” while the overall consensus rating is still “Hold” with a $15.92 target price.
• Fundamentals remain weak, as the company recently missed earnings and revenue estimates, reported a wider year-over-year revenue decline, and continues to post negative earnings and margins.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price traded up 3.3% during mid-day trading on Thursday . The company traded as high as $9.19 and last traded at $9.0530. 20,790,035 shares changed hands during mid-day trading, a decline of 32% from the average daily volume of 30,393,996 shares. The stock had previously closed at $8.76.

Wall Street Analyst Weigh In

SMR has been the subject of several recent research reports. Citigroup reduced their price target on NuScale Power from $9.00 to $7.00 and set a "sell" rating for the company in a research report on Monday, May 11th. Bank of America assumed coverage on NuScale Power in a research report on Friday, May 22nd. They set a "neutral" rating and a $12.00 price target on the stock. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. Finally, UBS Group decreased their target price on shares of NuScale Power from $20.00 to $13.00 and set a "neutral" rating for the company in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $15.92.

NuScale Power Stock Performance

The company has a market capitalization of $3.31 billion, a P/E ratio of -3.10 and a beta of 2.24. The stock's fifty day moving average price is $11.12 and its 200-day moving average price is $13.24.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company's quarterly revenue was down 95.8% compared to the same quarter last year. On average, research analysts predict that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 13,500,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the period. Van ECK Associates Corp grew its stake in NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock valued at $163,176,000 after buying an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company's stock valued at $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC bought a new position in NuScale Power in the 1st quarter valued at about $59,141,000. Finally, Morgan Stanley lifted its position in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock worth $74,788,000 after acquiring an additional 2,361,532 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

NuScale Power Company Profile

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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