B. Riley Comments on NuScale Power FY2024 Earnings

NuScale Power Co. (NYSE:SMR - Free Report) - Stock analysts at B. Riley issued their FY2024 earnings per share (EPS) estimates for NuScale Power in a report released on Thursday, February 6th. B. Riley analyst R. Pfingst expects that the company will earn ($0.73) per share for the year. B. Riley also issued estimates for NuScale Power's Q4 2024 earnings at ($0.11) EPS, FY2025 earnings at ($0.45) EPS, FY2026 earnings at ($0.41) EPS and FY2027 earnings at ($0.37) EPS.

Separately, Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power presently has an average rating of "Moderate Buy" and an average target price of $11.42.

NuScale Power Stock Down 6.5 %

Shares of NYSE:SMR traded down $1.72 during mid-day trading on Monday, reaching $24.69. 12,939,718 shares of the stock were exchanged, compared to its average volume of 12,572,974. NuScale Power has a one year low of $2.47 and a one year high of $32.30. The stock's 50 day simple moving average is $22.11 and its 200-day simple moving average is $17.50. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $6.30 billion, a P/E ratio of -25.98 and a beta of 1.51.

Institutional Trading of NuScale Power

Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company lifted its holdings in shares of NuScale Power by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company's stock valued at $345,000 after purchasing an additional 8,096 shares during the last quarter. Truist Financial Corp purchased a new position in shares of NuScale Power during the second quarter valued at approximately $177,000. Park Avenue Securities LLC purchased a new position in shares of NuScale Power during the third quarter valued at approximately $217,000. Handelsbanken Fonder AB lifted its holdings in shares of NuScale Power by 68.1% during the third quarter. Handelsbanken Fonder AB now owns 24,200 shares of the company's stock valued at $280,000 after purchasing an additional 9,800 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company's stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. 78.37% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares of the company's stock, valued at $625,537. This represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company's stock.

About NuScale Power

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.