NuScale Power (NYSE:SMR) Announces Quarterly Earnings Results, Meets Expectations

NuScale Power (NYSE:SMRGet Free Report) released its quarterly earnings results on Thursday. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21), Zacks reports. NuScale Power had a negative return on equity of 35.99% and a negative net margin of 342.39%. The company had revenue of $1.38 million during the quarter, compared to analyst estimates of $3.15 million. During the same quarter last year, the business posted ($0.16) earnings per share.

NuScale Power Stock Up 7.2 %

Shares of SMR traded up $0.42 during mid-day trading on Friday, reaching $6.28. The company had a trading volume of 7,501,155 shares, compared to its average volume of 2,509,053. The stock has a market capitalization of $1.47 billion, a P/E ratio of -7.37 and a beta of 0.98. NuScale Power has a 52-week low of $1.81 and a 52-week high of $11.21. The stock has a 50 day moving average of $5.61 and a two-hundred day moving average of $3.82.

Wall Street Analysts Forecast Growth

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

Check Out Our Latest Stock Report on SMR

Insider Activity

In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the transaction, the general counsel now owns 19,054 shares in the company, valued at $115,657.78. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares of the company’s stock, valued at $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the sale, the general counsel now directly owns 19,054 shares in the company, valued at approximately $115,657.78. The disclosure for this sale can be found here. Insiders sold a total of 115,899 shares of company stock valued at $590,771 in the last three months. 1.96% of the stock is currently owned by corporate insiders.

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.

Further Reading

Earnings History for NuScale Power (NYSE:SMR)

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