NuScale Power (NYSE:SMR) Stock Price Up 1.9% - Here's What Happened

Key Points

• NuScale Power shares rose 1.9% to $9.74 in midday trading, with approximately 28.6 million shares changing hands.
• Analysts maintain a consensus “Hold” rating with an average price target of $13.50, although recent firms have generally reduced their targets.
• The company matched quarterly EPS expectations at a loss of $0.13 but reported just $0.07 million in revenue, down 99.1% year over year; insiders have also sold 68,651 shares over the past three months.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price rose 1.9% on Thursday . The stock traded as high as $10.08 and last traded at $9.74. Approximately 28,636,546 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 30,809,984 shares. The stock had previously closed at $9.56.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Bank of America initiated coverage on NuScale Power in a research report on Friday, May 22nd. They issued a "neutral" rating and a $12.00 price target for the company. B. Riley Financial lowered their price objective on NuScale Power from $19.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 14th. Canaccord Genuity Group dropped their target price on NuScale Power from $25.00 to $15.00 and set a "buy" rating for the company in a report on Thursday, August 6th. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a report on Friday, May 8th. Finally, Truist Financial started coverage on NuScale Power in a research note on Monday, July 13th. They issued a "hold" rating and a $10.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, NuScale Power currently has an average rating of "Hold" and a consensus price target of $13.50.

NuScale Power Stock Performance

The company has a market capitalization of $4.19 billion, a price-to-earnings ratio of -3.34 and a beta of 2.30. The firm has a 50-day simple moving average of $9.12 and a two-hundred day simple moving average of $10.80.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.13). The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The company's revenue was down 99.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.11) earnings per share. As a group, equities analysts forecast that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Activity

In other NuScale Power news, CFO Robert Hamady sold 29,880 shares of the company's stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the transaction, the chief financial officer owned 124,235 shares in the company, valued at approximately $1,166,566.65. This represents a 19.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Carl M. Fisher sold 18,771 shares of the business's stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer owned 114,718 shares in the company, valued at $1,073,760.48. The trade was a 14.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 68,651 shares of company stock valued at $633,470. Insiders own 1.28% of the company's stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of SMR. Vanguard Group Inc. boosted its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock worth $220,273,000 after purchasing an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp raised its position in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock valued at $163,176,000 after buying an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of NuScale Power in the first quarter valued at approximately $59,141,000. Morgan Stanley lifted its stake in shares of NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock valued at $74,788,000 after buying an additional 2,361,532 shares during the period. Finally, Samsung C&T Corp lifted its stake in shares of NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company's stock valued at $186,689,000 after buying an additional 2,578,702 shares during the period. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

About NuScale Power

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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