NuScale Power (NYSE:SMR) Stock Price Up 5.6% – Here’s Why

NuScale Power Corporation (NYSE:SMR)’s share price shot up 5.6% on Monday . The company traded as high as $8.64 and last traded at $8.5450. Approximately 30,153,310 shares changed hands during trading, a decline of 1% from the average daily volume of 30,425,018 shares. The stock had previously closed at $8.09.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Truist Financial started coverage on shares of NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 target price on the stock. Barclays dropped their price target on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. B. Riley Financial dropped their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a report on Friday, April 24th. Citigroup reissued a “sell” rating on shares of NuScale Power in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and a consensus price target of $15.15.

NuScale Power Price Performance

The firm has a market cap of $2.82 billion, a PE ratio of -2.65 and a beta of 2.24. The company has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $12.47.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business had revenue of $0.56 million during the quarter, compared to analysts’ expectations of $7.00 million. The company’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, equities research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Institutional Trading of NuScale Power

A number of large investors have recently made changes to their positions in SMR. Triumph Capital Management bought a new stake in NuScale Power during the 3rd quarter valued at about $37,000. EverSource Wealth Advisors LLC grew its stake in NuScale Power by 187.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company’s stock worth $67,000 after acquiring an additional 1,105 shares in the last quarter. Ancora Advisors LLC grew its stake in NuScale Power by 177,500.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the company’s stock worth $64,000 after acquiring an additional 1,775 shares in the last quarter. Vermillion & White Wealth Management Group LLC increased its position in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after acquiring an additional 1,675 shares during the period. Finally, Monimus Capital Management LP purchased a new position in shares of NuScale Power during the second quarter worth approximately $72,000. 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.