NuScale Power (NYSE:SMR) Announces Quarterly Earnings Results

NuScale Power (NYSE:SMR - Get Free Report) issued its quarterly earnings data on Thursday. The company reported ($0.21) EPS for the quarter, hitting analysts' consensus estimates of ($0.21), Zacks reports. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The firm had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same quarter in the prior year, the firm earned ($0.16) EPS.

NuScale Power Stock Performance

Shares of NYSE:SMR traded up $0.40 during mid-day trading on Friday, reaching $6.27. The stock had a trading volume of 7,496,456 shares, compared to its average volume of 2,751,630. The firm has a 50 day simple moving average of $5.55 and a two-hundred day simple moving average of $3.80. NuScale Power has a twelve month low of $1.81 and a twelve month high of $11.21.

Insider Activity at NuScale Power

In related news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 59,768 shares of the firm'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 transaction of $251,025.60. The disclosure for this sale can be found here. Insiders have sold 115,899 shares of company stock worth $590,771 in the last ninety days. Company insiders own 1.96% of the company's stock.

Analysts Set New Price Targets

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

About NuScale Power

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.