NuScale Power (NYSE:SMR) Stock Price Up 7.1% – Here’s Why

NuScale Power Corporation (NYSE:SMR) rose 7.1% during trading on Monday . The company traded as high as $9.13 and last traded at $9.0170. Approximately 27,595,855 shares were traded during trading, a decline of 10% from the average session volume of 30,499,076 shares. The stock had previously closed at $8.42.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SMR. Citigroup reaffirmed a “sell” rating on shares of NuScale Power in a research note on Wednesday, July 22nd. The Goldman Sachs Group set a $9.00 price objective on NuScale Power in a research note on Friday, May 8th. HSBC began coverage on NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. B. Riley Financial lowered their target price on NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research note on Friday, April 24th. Finally, Bank of America initiated coverage on NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. One investment 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $15.15.

NuScale Power Price Performance

The stock has a market capitalization of $3.30 billion, a PE ratio of -3.09 and a beta of 2.24. The company has a 50 day moving average price of $9.96 and a 200-day moving average price of $12.23.

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

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently bought and sold shares of SMR. Van ECK Associates Corp lifted its stake in shares of NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after purchasing an additional 6,227,747 shares during the period. Renaissance Technologies LLC bought a new position in NuScale Power in the first quarter worth $59,141,000. Vanguard Group Inc. raised its holdings in NuScale Power by 40.5% in the fourth 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 in the last quarter. Voloridge Investment Management LLC purchased a new position in NuScale Power during the fourth quarter valued at $48,993,000. Finally, Samsung C&T Corp lifted its position in 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.