NuScale Power Co. (NYSE:SMR) Expected to Post FY2024 Earnings of ($0.64) Per Share

NuScale Power Co. (NYSE:SMR) – Equities research analysts at B. Riley reduced their FY2024 earnings per share estimates for shares of NuScale Power in a report issued on Tuesday, April 30th. B. Riley analyst R. Pfingst now expects that the company will earn ($0.64) per share for the year, down from their previous estimate of ($0.41). The consensus estimate for NuScale Power’s current full-year earnings is ($0.41) per share. B. Riley also issued estimates for NuScale Power’s FY2026 earnings at ($0.11) EPS and FY2027 earnings at $0.12 EPS.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The business had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group lifted their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Canaccord Genuity Group began coverage on NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective on the stock. Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, UBS Group lifted their price objective on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power has an average rating of “Hold” and a consensus target price of $7.75.

NuScale Power Price Performance

Shares of NYSE SMR opened at $5.75 on Thursday. The stock’s 50-day moving average is $5.13 and its 200 day moving average is $3.74. NuScale Power has a 1-year low of $1.81 and a 1-year high of $11.21.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its stake in shares of NuScale Power by 2.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company’s stock worth $728,000 after acquiring an additional 2,844 shares during the last quarter. Global Retirement Partners LLC bought a new stake in shares of NuScale Power during the 4th quarter worth approximately $25,000. Evanson Asset Management LLC lifted its stake in shares of NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares during the last quarter. Swiss National Bank lifted its stake in shares of NuScale Power by 17.2% during the 3rd quarter. Swiss National Bank now owns 62,600 shares of the company’s stock worth $307,000 after acquiring an additional 9,200 shares during the last quarter. Finally, Essex Private Wealth Management LLC bought a new stake in shares of NuScale Power during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.96% of the stock is currently owned by company insiders.

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.