Brokers Set Expectations for NuScale Power Co.'s FY2024 Earnings (NYSE:SMR)

NuScale Power Co. (NYSE:SMR - Free Report) - Research analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for NuScale Power in a report issued on Tuesday, April 30th. B. Riley analyst R. Pfingst now anticipates that the company will post earnings per share of ($0.64) for the year, down from their previous forecast of ($0.41). The consensus estimate for NuScale Power's current full-year earnings is ($0.41) per share. B. Riley also issued estimates for NuScale Power's FY2026 earnings at ($0.11) EPS and FY2027 earnings at $0.12 EPS.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The company had revenue of $4.56 million during the quarter, compared to analysts' expectations of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%.

A number of other analysts also recently issued reports on SMR. Canaccord Genuity Group started coverage on NuScale Power in a report on Monday, January 29th. They set a "buy" rating and a $4.25 price target for the company. Canaccord Genuity Group boosted their price target on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research report on Monday, March 18th. UBS Group lifted their price objective on NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company reaffirmed an "underweight" rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $7.75.

NuScale Power Trading Up 5.1 %

NYSE:SMR traded up $0.29 during midday trading on Thursday, reaching $6.02. The company had a trading volume of 2,122,611 shares, compared to its average volume of 4,167,459. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -7.53 and a beta of 0.98. The stock's fifty day simple moving average is $5.19 and its 200-day simple moving average is $3.75. NuScale Power has a 12-month low of $1.81 and a 12-month high of $11.21.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMR. SG Americas Securities LLC acquired a new stake in shares of NuScale Power during the 3rd quarter worth $143,000. Raymond James & Associates acquired a new stake in NuScale Power during the third quarter worth about $439,000. J.W. Cole Advisors Inc. raised its stake in NuScale Power by 37.2% during the third quarter. J.W. Cole Advisors Inc. now owns 42,843 shares of the company's stock worth $210,000 after acquiring an additional 11,625 shares during the period. Canal Insurance CO increased its stake in shares of NuScale Power by 33.3% in the third quarter. Canal Insurance CO now owns 160,000 shares of the company's stock valued at $784,000 after purchasing an additional 40,000 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of NuScale Power by 2.0% in the third quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company's stock valued at $728,000 after purchasing an additional 2,844 shares during the period. 15.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NuScale Power

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the company's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.96% of the stock is owned by corporate insiders.

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.