NuScale Power (NYSE:SMR) Stock Price Up 7.6% - Here's Why

Key Points

• NuScale Power shares rose 7.6% to $9.30, with trading volume 18% above the average. The stock remains below its 200-day moving average of $11.37.
• Analysts maintain a generally cautious outlook, with a consensus rating of “Hold” and an average price target of $13.50, despite several firms recently lowering their targets.
• The company matched quarterly EPS expectations at a loss of $0.13 per share, but revenue fell 99.1% year over year to just $0.07 million. Institutional investors own 78.37% of the stock, while an executive sold shares to cover tax obligations tied to vested equity awards.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 7.6% during trading on Wednesday . The company traded as high as $9.35 and last traded at $9.30. 35,998,409 shares traded hands during trading, an increase of 18% from the average daily volume of 30,453,809 shares. The stock had previously closed at $8.64.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SMR shares. B. Riley Financial cut their target price on NuScale Power from $19.00 to $15.00 and set a "buy" rating for the company in a research report on Friday, August 14th. Royal Bank Of Canada dropped their price target on NuScale Power from $14.00 to $10.00 and set a "sector perform" rating for the company in a research note on Tuesday, August 11th. Bank of America began coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a "neutral" rating and a $12.00 price objective for the company. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They set a "hold" rating and a $13.00 price objective on the stock. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $13.50.

NuScale Power Trading Up 7.6%

The company has a 50 day moving average price of $9.37 and a 200-day moving average price of $11.37. The company has a market cap of $4.00 billion, a P/E ratio of -3.18 and a beta of 2.26.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). The company had revenue of $0.07 million during the quarter, compared to analysts' expectations of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.NuScale Power's revenue was down 99.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) EPS. Equities analysts expect that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Insider Buying and Selling

In other news, COO Carl M. Fisher sold 18,771 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the transaction, the chief operating officer owned 114,718 shares of the company's stock, valued at approximately $1,073,760.48. This represents a 14.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.28% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in 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 buying an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock worth $163,176,000 after buying an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of NuScale Power during the first quarter worth $59,141,000. Morgan Stanley lifted its stake in shares of NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock valued at $74,788,000 after acquiring an additional 2,361,532 shares during the last quarter. Finally, Samsung C&T Corp boosted its holdings in shares of NuScale Power by 98.9% during the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company's stock valued at $186,689,000 after acquiring an additional 2,578,702 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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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