NuScale Power (NYSE:SMR) Trading Up 1.5% - Here's Why

Key Points

• NuScale Power's stock price rose by 1.5% to $35.56 with a significant drop in trading volume, seeing around 4.6 million shares change hands, which is 60% lower than its average daily volume.
• Analyst ratings have varied, with companies like BTIG Research and Bank of America issuing neutral ratings, while Citigroup set a target price of $46.00 for the stock.
• NuScale reported a quarterly earnings miss, with an EPS of (0.13), falling short of the consensus estimate by ($0.01), and their revenue of $8.05 million was below the expected $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was up 1.5% on Monday . The stock traded as high as $36.40 and last traded at $35.56. Approximately 4,623,485 shares traded hands during trading, a decline of 60% from the average daily volume of 11,539,567 shares. The stock had previously closed at $35.04.

Analyst Ratings Changes

A number of brokerages have weighed in on SMR. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Bank of America assumed coverage on shares of NuScale Power in a research report on Thursday. They issued a "neutral" rating and a $36.00 price target on the stock. Citigroup initiated coverage on shares of NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. BNP Paribas Exane began coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price on the stock. Finally, Northland Capmk upgraded shares of NuScale Power to a "hold" rating in a report on Monday, July 7th. Three analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of "Hold" and a consensus target price of $34.60.

NuScale Power Stock Up 2.6%

The stock's 50-day moving average price is $40.88 and its 200 day moving average price is $27.84. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of -30.22 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last issued 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 2.61%. The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. On average, research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in NuScale Power by 6.1% in the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after acquiring an additional 512,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of NuScale Power by 20.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of NuScale Power by 25.2% in the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock worth $112,944,000 after purchasing an additional 574,295 shares during the last quarter. State Street Corp increased its position in shares of NuScale Power by 37.5% during the 2nd quarter. State Street Corp now owns 2,736,187 shares of the company's stock worth $108,244,000 after purchasing an additional 746,667 shares in the last quarter. Finally, Swedbank AB lifted 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 valued at $34,014,000 after purchasing an additional 149,875 shares during the last quarter. 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.

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