NuScale Power (NYSE:SMR) Shares Up 1.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares shot up 1.4% on Monday . The company traded as high as $12.18 and last traded at $11.9680. 18,433,686 shares changed hands during mid-day trading, a decline of 31% from the average session volume of 26,905,738 shares. The stock had previously closed at $11.80.

Analyst Ratings Changes

A number of research firms recently weighed in on SMR. Barclays lowered their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Canaccord Genuity Group decreased their price target on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Citigroup lowered their price objective on NuScale Power from $18.50 to $11.50 and set a “sell” rating on the stock in a research report on Monday, March 2nd. Northland Securities raised NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Friday, February 27th. Finally, Bank of America upgraded NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 target price for the company in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.42.

NuScale Power Stock Up 1.4%

The company has a market capitalization of $3.57 billion, a PE ratio of -4.14 and a beta of 2.20. The company’s 50 day moving average is $16.18 and its two-hundred day moving average is $25.39.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.70). NuScale Power had a negative return on equity of 55.23% and a negative net margin of 1,130.26%.The company had revenue of $1.81 million during the quarter, compared to analysts’ expectations of $8.76 million. Analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 82,667 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the transaction, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. This represents a 41.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton Scott sold 22,478 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the transaction, the insider owned 132,852 shares of the company’s stock, valued at $1,623,451.44. This represents a 14.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 635,610 shares of company stock valued at $8,198,439 in the last ninety days. Company insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. CX Institutional bought a new stake in NuScale Power in the third quarter worth $25,000. Nemes Rush Group LLC purchased a new position in shares of NuScale Power in the 3rd quarter worth $25,000. Strategic Advocates LLC purchased a new position in shares of NuScale Power in the 3rd quarter worth $25,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after buying an additional 1,675 shares during the last quarter. Finally, Ameriflex Group Inc. purchased a new stake in shares of NuScale Power during the 4th quarter valued at about $30,000. 78.37% of the stock is 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.