NuScale Power Corporation (NYSE: SMR) stock jumped 1.94% on Tuesday to $10.50 against a previous-day closing price of $10.30. With 1.2 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.6 million shares. During the session, the Specialty Industrial Machinery company that operates in wider Industrials sector, reached to the highest price of $11.32 whereas the lowest price it dropped to was $10.22. The 52-week range on SMR shows that it touched its highest point at $15.85 and its lowest point at $8.87 during that stretch. It currently has a 1-year price target of $15.50.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of SMR was up-trending over the past week, with a rise of 0.86%, but this was up by 2.44% over a month. Three-month performance dropped to -13.22% while six-month performance fell -18.73%. The stock gained 5.11% in the past year, while it has gained 2.34% so far this year. A look at the trailing 12-month EPS for SMR yields -0.42 with Next year EPS estimates of -0.26. For the next quarter, that number is -0.02. This implies an EPS growth rate of -16.00% for this year and 21.90% for next year.
Float and Shares Shorts:
At present, 46.42 million SMR shares are outstanding with a float of 35.70 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.32 million, which was 10.16% higher than short shares on Sep 14, 2022. In addition to Mr. John L. Hopkins as the firm’s Pres, CEO & Director, Mr. Chris Colbert serves as its Chief Financial Officer.
Through their ownership of 49.41% of SMR’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 6.85% of SMR, in contrast to 39.00% held by mutual funds. Shares owned by individuals account for 21.97%. As the largest shareholder in SMR with 6.75% of the stake, Swedbank Robur Fonder AB holds 3,500,000 shares worth 3,500,000. A second-largest stockholder of SMR, BlackRock Fund Advisors, holds 1,544,908 shares, controlling over 2.98% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in SMR, holding 1,440,827 shares or 2.78% stake. With a 4.82% stake in SMR, the Swedbank Robur Allemansfond Kompl is the largest stakeholder. A total of 2,500,000 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.50% of SMR stock, is the second-largest Mutual Fund holder. It holds 1,294,240 shares valued at 13.28 million. Vanguard Small Cap Index Fund holds 1.93% of the stake in SMR, owning 1,002,818 shares worth 10.29 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for SMR since 5 analysts follow the stock currently. There are 3 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With SMR analysts setting a high price target of $18.00 and a low target of $13.00, the average target price over the next 12 months is $15.50. Based on these targets, SMR could surge 71.43% to reach the target high and rise by 23.81% to reach the target low. Reaching the average price target will result in a growth of 47.62% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.. Analysts have provided yearly estimates in a range of $0.07 being high and -$0.65 being low. For SMR, this leads to a yearly average estimate of -$0.31. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. NuScale Power Corporation surprised analysts by -$0.02 when it reported -$0.09 EPS against a consensus estimate of -$0.08. Based on analyst estimates, the high estimate for the next quarter is -$0.02 and the low estimate is -$0.02. The average estimate for the next quarter is thus -$0.02.
Summary of Insider Activity:
Insiders traded SMR stock several times over the past three months with 6 Buys and 15 Sells. In these transactions, 606,352 shares were bought while 907,198 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 749,619 while 1,440,020 shares were sold.