NuScale Power (NYSE:SMR) Trading Up 1.8% on Analyst Upgrade
by Danessa Lincoln · The Markets DailyNuScale Power Corporation (NYSE:SMR – Get Free Report) rose 1.8% during trading on Monday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The stock traded as high as $17.25 and last traded at $16.3550. Approximately 24,359,706 shares traded hands during trading, an increase of 59% from the average daily volume of 15,280,537 shares. The stock had previously closed at $16.07.
Several other analysts have also issued reports on the stock. Citigroup restated a “sell” rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. B. Riley dropped their target price on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a report on Monday. UBS Group set a $20.00 price target on shares of NuScale Power in a research note on Tuesday, November 25th. BNP Paribas Exane cut shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Finally, Canaccord Genuity Group increased their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $35.18.
Check Out Our Latest Stock Analysis on SMR
Insider Buying and Selling at NuScale Power
In related news, Director Corp Fluor sold 87,900 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $22.17, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 7,156,666 shares of company stock worth $277,733,990. 1.20% of the stock is currently owned by insiders.
Hedge Funds Weigh In On NuScale Power
A number of institutional investors and hedge funds have recently made changes to their positions in SMR. CX Institutional acquired a new position in shares of NuScale Power during the third quarter worth approximately $25,000. Nemes Rush Group LLC bought a new stake in shares of NuScale Power during the third quarter worth about $25,000. Strategic Advocates LLC acquired a new stake in shares of NuScale Power in the 3rd quarter worth about $25,000. Quantbot Technologies LP bought a new position in NuScale Power in the 1st quarter valued at about $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after purchasing an additional 359 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.
NuScale Power Trading Up 1.0%
The business has a fifty day simple moving average of $26.62 and a 200 day simple moving average of $35.20. The stock has a market capitalization of $4.81 billion, a P/E ratio of -5.64 and a beta of 2.09.
NuScale Power (NYSE:SMR – Get Free Report) last released its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. During the same period in the previous year, the business earned ($0.18) earnings per share. The firm’s revenue for the quarter was up 1635.2% on a year-over-year basis. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.
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.