NuScale Power (NYSE:SMR - Get Free Report) announced its earnings results on Thursday. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($1.74), FiscalAI reports. The firm had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm's quarterly revenue was up 1635.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) EPS.

NuScale Power Price Performance

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SMR stock traded down $5.40 during trading on Thursday, reaching $32.51. 23,205,621 shares of the company were exchanged, compared to its average volume of 26,124,562. NuScale Power has a twelve month low of $11.08 and a twelve month high of $57.42. The company has a market capitalization of $9.26 billion, a price-to-earnings ratio of -27.32 and a beta of 2.03. The company has a 50-day moving average of $39.32 and a two-hundred day moving average of $35.82.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of analyst reports. UBS Group raised their price target on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research note on Monday, August 11th. Canaccord Genuity Group boosted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Citigroup reaffirmed a "sell" rating and set a $37.50 price target (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Bank of America reissued an "underperform" rating and issued a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of NuScale Power in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $37.73.

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Check Out Our Latest Research Report on SMR

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 87,900 shares of the stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 15,030,641 shares of company stock valued at $605,953,415. Insiders own 1.27% of the company's stock.

Institutional Trading of NuScale Power

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Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada lifted its position in shares of NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company's stock worth $6,475,000 after acquiring an additional 394,065 shares in the last quarter. AQR Capital Management LLC raised its position in NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company's stock worth $533,000 after purchasing an additional 10,244 shares during the period. Integrated Wealth Concepts LLC bought a new position in shares of NuScale Power in the first quarter worth approximately $390,000. Jones Financial Companies Lllp increased its holdings in NuScale Power by 9.1% during the 1st quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company's stock valued at $238,000 after purchasing an additional 1,394 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.

NuScale Power Company Profile

(Get Free Report)

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.

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