FY2024 EPS Estimates for NuScale Power Co. (NYSE:SMR) Lowered by Analyst

NuScale Power Co. (NYSE:SMR) – Analysts at B. Riley dropped their FY2024 earnings per share (EPS) estimates for NuScale Power in a research note issued to investors 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 forecast of ($0.41). The consensus estimate for NuScale Power’s current full-year earnings is ($0.64) 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 issued its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. The company had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million.

A number of other analysts have also commented on SMR. Wells Fargo & Company reiterated an “underweight” rating and set 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 price objective on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Canaccord Genuity Group increased their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Canaccord Genuity Group assumed coverage on NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $7.75.

NuScale Power Trading Up 2.2 %

NYSE SMR opened at $6.16 on Thursday. The business has a fifty day simple moving average of $5.26 and a 200 day simple moving average of $3.77. NuScale Power has a 12 month low of $1.81 and a 12 month high of $11.21. The firm has a market capitalization of $1.44 billion, a P/E ratio of -7.70 and a beta of 0.98.

Insider Activity

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction that occurred on 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company’s stock valued at $15,774,000 after purchasing an additional 1,132,131 shares during the period. FMR LLC increased its holdings in shares of NuScale Power by 11.2% in the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after purchasing an additional 301,548 shares in the last quarter. Rheos Capital Works Inc. purchased a new stake in NuScale Power during the first quarter valued at $1,328,000. Vanguard Group Inc. increased its position in NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after acquiring an additional 204,505 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in NuScale Power during the fourth quarter valued at $417,000. 15.28% of the stock is currently owned by institutional investors.

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.