NuScale Power (NYSE:SMR) Trading Up 3.3% - Here's Why

Key Points

• NuScale Power shares rose 3.3% on Tuesday, trading as high as $8.69 before closing at $8.625, with volume below its daily average.
• Analyst sentiment is cautious overall. Recent reports included a mix of holds, buys, and sells, with a consensus rating of Hold and an average price target of $15.46.
• The company’s fundamentals remain weak. NuScale recently reported a wider-than-expected loss and sharply lower revenue year over year, while insiders and institutions continue to hold significant stakes in the stock.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shot up 3.3% on Tuesday . The company traded as high as $8.69 and last traded at $8.6250. 23,761,437 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 30,378,801 shares. The stock had previously closed at $8.35.

Analysts Set New Price Targets

SMR has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. UBS Group cut their price objective on NuScale Power from $20.00 to $13.00 and set a "neutral" rating for the company in a report on Wednesday, March 18th. Truist Financial initiated coverage on shares of NuScale Power in a research note on Monday. They issued a "hold" rating and a $10.00 target price on the stock. B. Riley Financial dropped their target price on shares of NuScale Power from $24.00 to $19.00 and set a "buy" rating for the company in a research report on Friday, April 24th. Finally, HSBC began coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a "hold" rating and a $13.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $15.46.

NuScale Power Trading Up 3.3%

The stock has a market capitalization of $3.15 billion, a P/E ratio of -2.95 and a beta of 2.24. The stock's fifty day moving average price is $10.94 and its two-hundred day moving average price is $13.09.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate 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 net margin of 2,066.55% and a negative return on equity of 48.88%. The firm's quarterly revenue was down 95.8% on a year-over-year basis. As a group, analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company's stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently bought and sold shares of the stock. Harbour Investments Inc. grew its position in NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock worth $34,000 after acquiring an additional 592 shares during the last quarter. Strategic Advocates LLC bought a new stake in NuScale Power in the third quarter valued at approximately $25,000. Balboa Wealth Partners boosted its stake in shares of NuScale Power by 5.9% during the fourth quarter. Balboa Wealth Partners now owns 13,465 shares of the company's stock valued at $191,000 after purchasing an additional 756 shares during the period. Allworth Financial LP boosted its stake in shares of NuScale Power by 7.8% during the third quarter. Allworth Financial LP now owns 10,492 shares of the company's stock valued at $378,000 after purchasing an additional 758 shares during the period. Finally, Arax Advisory Partners grew its holdings in shares of NuScale Power by 26.0% in the fourth quarter. Arax Advisory Partners now owns 3,739 shares of the company's stock worth $53,000 after purchasing an additional 772 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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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