NuScale Power Co. (NYSE:SMR) to Post Q1 2024 Earnings of ($0.21) Per Share, B. Riley Forecasts

NuScale Power Co. (NYSE:SMR) – Research analysts at B. Riley issued their Q1 2024 earnings per share (EPS) estimates for NuScale Power in a note issued to investors on Tuesday, April 30th. B. Riley analyst R. Pfingst expects that the company will post earnings per share of ($0.21) for the quarter. 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 Q2 2024 earnings at ($0.16) EPS, Q3 2024 earnings at ($0.14) EPS and Q4 2024 earnings at ($0.13) EPS.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%.

Several other research analysts have also recently weighed in on SMR. Canaccord Genuity Group started coverage on NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective on the stock. UBS Group upped their price target on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group upped their price target on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. 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 stock. Based on data from MarketBeat, NuScale Power presently has an average rating of “Hold” and an average target price of $7.75.

NuScale Power Trading Down 0.9 %

SMR stock opened at $5.75 on Wednesday. The stock’s fifty day simple moving average is $5.13 and its two-hundred day simple moving average is $3.74. NuScale Power has a 1-year low of $1.81 and a 1-year high of $11.21. The stock has a market cap of $1.35 billion, a P/E ratio of -7.19 and a beta of 1.06.

Insider Activity at NuScale Power

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. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp lifted its stake in shares of NuScale Power by 2.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 148,639 shares of the company’s stock valued at $728,000 after purchasing an additional 2,844 shares during the period. Global Retirement Partners LLC purchased a new position in shares of NuScale Power in the 4th quarter valued at approximately $25,000. Evanson Asset Management LLC raised its stake in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after buying an additional 7,986 shares during the last quarter. Swiss National Bank raised its stake in NuScale Power by 17.2% during the third quarter. Swiss National Bank now owns 62,600 shares of the company’s stock valued at $307,000 after buying an additional 9,200 shares during the last quarter. Finally, Essex Private Wealth Management LLC purchased a new position in NuScale Power during the fourth quarter valued at $33,000. 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.