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

NuScale Power Co. (NYSE:SMR) – Analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for NuScale Power in a report issued on Tuesday, April 30th. B. Riley analyst R. Pfingst now expects that the company will post earnings of ($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 posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The business had revenue of $4.56 million for the quarter, compared to analyst estimates 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 research analysts also recently commented on the company. Canaccord Genuity Group boosted their target price on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. UBS Group boosted their target price on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group started coverage on NuScale Power in a research note on Monday, January 29th. They issued a “buy” rating and a $4.25 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power has an average rating of “Hold” and a consensus target price of $7.75.

NuScale Power Trading Up 5.1 %

NYSE:SMR opened at $6.02 on Thursday. The business’s fifty day moving average price is $5.19 and its 200 day moving average price is $3.75. NuScale Power has a 1-year low of $1.81 and a 1-year high of $11.21. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -7.53 and a beta of 0.98.

Institutional Trading of NuScale Power

Several large investors have recently made changes to their positions in the stock. Private Capital Advisors Inc. bought a new stake in shares of NuScale Power during the 1st quarter worth about $159,000. Mesirow Financial Investment Management Inc. bought a new stake in NuScale Power during the 1st quarter valued at approximately $53,000. Evanson Asset Management LLC boosted its stake in NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after purchasing an additional 7,986 shares during the period. Rheos Capital Works Inc. bought a new stake in NuScale Power during the 1st quarter valued at approximately $1,328,000. Finally, Quadrature Capital Ltd bought a new stake in NuScale Power during the 4th quarter valued at approximately $417,000. Institutional investors own 15.28% of the company’s stock.

Insider Transactions at NuScale Power

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s 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 filing with the Securities & Exchange Commission, which is available at the SEC website. 1.96% of the stock is currently owned by corporate insiders.

NuScale Power Company Profile

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.