NuScale Power (NYSE:SMR) Trading 4% Higher – Here’s Why

NuScale Power Corporation (NYSE:SMR) was up 4% during mid-day trading on Wednesday . The stock traded as high as $9.65 and last traded at $9.5750. Approximately 27,434,439 shares traded hands during trading, a decline of 11% from the average session volume of 30,824,488 shares. The stock had previously closed at $9.21.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. Northland Securities set a $16.00 price target on shares of NuScale Power in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Barclays lowered their target price on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. Canaccord Genuity Group cut their price target on NuScale Power from $25.00 to $15.00 and set a “buy” rating for the company in a report on Thursday, August 6th. Finally, B. Riley Financial reduced their price target on NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, NuScale Power presently has an average rating of “Hold” and a consensus target price of $13.50.

NuScale Power Stock Up 4.0%

The business’s fifty day moving average is $9.13 and its two-hundred day moving average is $10.83. The stock has a market capitalization of $4.11 billion, a PE ratio of -3.28 and a beta of 2.30.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The company’s quarterly revenue was down 99.1% compared to the same quarter last year. Sell-side analysts expect that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 29,880 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total value of $280,573.20. Following the completion of the sale, the chief financial officer directly owned 124,235 shares of the company’s stock, valued at $1,166,566.65. The trade was a 19.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares in the company, valued at approximately $152,764.12. This trade represents a 53.70% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 68,651 shares of company stock valued at $633,470. 1.28% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Vermillion & White Wealth Management Group LLC boosted its holdings in NuScale Power by 1,550.9% in 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 in the last quarter. Assetmark Inc. raised its position in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after purchasing an additional 2,309 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in NuScale Power during the 2nd quarter worth approximately $27,000. Ameriflex Group Inc. acquired a new position in NuScale Power during the 4th quarter valued at approximately $30,000. Finally, Strategic Advocates LLC raised its holdings in shares of NuScale Power by 233.0% in the fourth quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock worth $33,000 after buying an additional 1,624 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.