NuScale Power Co. (NYSE:SMR) to Post Q4 2023 Earnings of ($0.22) Per Share, B. Riley Forecasts

NuScale Power Co. (NYSE:SMRFree Report) – B. Riley reduced their Q4 2023 earnings per share (EPS) estimates for shares of NuScale Power in a research note issued on Wednesday, February 21st. B. Riley analyst R. Pfingst now anticipates that the company will post earnings of ($0.22) per share for the quarter, down from their previous estimate of ($0.21). The consensus estimate for NuScale Power’s current full-year earnings is ($0.76) per share.

Other analysts have also recently issued reports about the company. Canaccord Genuity Group started coverage on NuScale Power in a report on Monday, January 29th. They set a “buy” rating and a $4.25 price objective for the company. Canaccord Genuity Group assumed coverage on NuScale Power in a research report on Monday, January 29th. They set a “buy” rating and a $4.25 target price for the company. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $8.50.

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NuScale Power Price Performance

Shares of NYSE:SMR opened at $2.53 on Friday. NuScale Power has a 1-year low of $1.81 and a 1-year high of $10.47. The business has a 50-day moving average price of $2.80 and a two-hundred day moving average price of $4.00.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Vanguard Group Inc. boosted its position in NuScale Power by 2.3% during the 4th quarter. Vanguard Group Inc. now owns 5,663,272 shares of the company’s stock worth $18,632,000 after acquiring an additional 126,883 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in NuScale Power by 5.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after acquiring an additional 172,408 shares during the last quarter. BlackRock Inc. boosted its position in NuScale Power by 63.8% during the 2nd quarter. BlackRock Inc. now owns 3,167,555 shares of the company’s stock worth $21,539,000 after acquiring an additional 1,233,898 shares during the last quarter. FMR LLC boosted its position in NuScale Power by 11.2% during the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after acquiring an additional 301,548 shares during the last quarter. Finally, Macquarie Group Ltd. acquired a new position in NuScale Power during the 2nd quarter worth approximately $10,090,000. 10.67% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

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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

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