NuScale Power Corporation (NYSE:SMR) shares, rose in value, with the stock price up by 2.26% to the previous day’s close as strong demand from buyers drove the stock to $7.24.
Actively observing the price movement in the last trading, the stock closed the session at $7.08. The value of beta (5-year monthly) was 0.91. Referring to stock’s 52-week performance, its high was $9.84, and the low was $1.81. On the whole, SMR has fluctuated by 179.54% over the past month.
With the market capitalization of NuScale Power Corporation currently standing at about $555.89 million, investors are eagerly awaiting this quarter’s results, scheduled for Mar 14, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.13, which is expected to increase to -$0.12 for fiscal year -$0.49 and then to about -$0.38 by fiscal year 2024. Data indicates that the EPS growth is expected to be 3.90% in 2024, while the next year’s EPS growth is forecast to be 22.40%.
Analysts have estimated the company’s revenue for the quarter at $9.97 million, with a low estimate of $6.95 million and a high estimate of $13 million. According to the average forecast, sales growth in current quarter could jump up 190.00%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $25.73 million, representing an increase of 118.00% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SMR’s technical picture suggests that short-term indicators denote the stock is a 50% Buy on average. However, medium term indicators have put the stock in the category of Hold while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SMR currently trading nearly 91.21% and 134.90% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 87.85, while the 7-day volatility ratio is showing 24.09% which for the 30-day chart, stands at 14.19%. Furthermore, NuScale Power Corporation (SMR)’s beta value is 0.97, and its average true range (ATR) is 0.68.
A comparison of NuScale Power Corporation (SMR) with its peers suggests the former has fared considerably weaker in the market. SMR showed an intraday change of 2.26% in last session, and over the past year, it shrunk by -23.79%%.
Data on historical trading for NuScale Power Corporation (NYSE:SMR) indicates that the trading volumes over the past 10 days have averaged 6.0 million and over the past 3 months, they’ve averaged 2.41 million. According to company’s latest data on outstanding shares, there are 69.35 million shares outstanding.
Nearly 29.55% of NuScale Power Corporation’s shares belong to company insiders and institutional investors own 36.53% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 15.43 million shares as on Feb 29, 2024, resulting in a short ratio of 9.13. According to the data, the short interest in NuScale Power Corporation (SMR) stood at 20.09% of shares outstanding as of Feb 29, 2024; the number of short shares registered in Jan 31, 2024 reached 16.27 million. The stock has risen by 120.06% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SMR stock heading into the next quarter.
