Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) traded up 14.3% on Wednesday . The company traded as high as $13.67 and last traded at $13.5710. 44,700,834 shares were traded during trading, an increase of 57% from the average session volume of 28,527,393 shares. The stock had previously closed at $11.87.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on NuScale Power from $45.00 to $15.00 and set an "equal weight" rating for the company in a research report on Monday, February 23rd. Northland Securities upgraded NuScale Power from a "market perform" rating to an "outperform" rating and set a $21.00 target price for the company in a research report on Friday, February 27th. TD Cowen downgraded NuScale Power from a "buy" rating to a "hold" rating in a research report on Wednesday, February 11th. Bank of America upgraded NuScale Power from an "underperform" rating to a "neutral" rating and set a $28.00 target price for the company in a research report on Friday, January 9th. Finally, The Goldman Sachs Group dropped their target price on NuScale Power from $20.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.77.
View Our Latest Stock Report on SMR
NuScale Power Price Performance
The business has a 50 day moving average of $11.63 and a 200 day moving average of $18.58. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of -4.70 and a beta of 2.24.
NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) 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 company had revenue of $1.81 million for the quarter, compared to analyst estimates of $8.76 million. As a group, equities analysts predict that NuScale Power Corporation will post -0.44 EPS for the current year.
Insider Buying and Selling at NuScale Power
In related news, COO Carl M. Fisher sold 22,197 shares of NuScale Power stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $271,247.34. Following the completion of the sale, the chief operating officer directly owned 140,141 shares of the company's stock, valued at $1,712,523.02. The trade was a 13.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Ramsey Hamady sold 18,570 shares of NuScale Power stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $226,925.40. Following the sale, the chief financial officer directly owned 97,192 shares of the company's stock, valued at approximately $1,187,686.24. This trade represents a 16.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,572,082 shares of company stock valued at $481,029,608 over the last quarter. 1.28% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On NuScale Power
Institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH acquired a new position in NuScale Power in the third quarter valued at about $14,347,000. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in NuScale Power by 686.9% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 184,609 shares of the company's stock valued at $6,646,000 after acquiring an additional 161,149 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in NuScale Power by 103.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 609,450 shares of the company's stock valued at $21,940,000 after acquiring an additional 309,810 shares during the period. Lisanti Capital Growth LLC acquired a new position in NuScale Power in the third quarter valued at about $2,350,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NuScale Power by 22.6% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company's stock valued at $263,195,000 after acquiring an additional 1,346,796 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.
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.
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