Why NuScale Power Stock Exploded 27% Higher Today [Yahoo! Finance]
NuScale Power Corporation (SMR)
Company Research
Source: Yahoo! Finance
As of 11 a.m. ET, NuScale stock is up 26.9%. What this Wall Street analyst said Canaccord nearly doubled its price target on NuScale stock today, to $8 per share, citing rising demand for electricity in the United States, a bigger opportunity for nuclear energy to power that growth -- and explaining that demand for electricity to power artificial intelligence (AI) is behind it all. Is NuScale stock a buy? Canaccord's excitement is understandable. NuScale claims to be the leader in "innovative advanced small modular reactor (SMR) nuclear technology," and says it's "the first and only SMR to receive U.S. Nuclear Regulatory Commission design approval." That being said, its financial report last week failed to impress. Although revenue nearly doubled in 2023 versus 2022 to $22.8 million, gross margin deteriorated, and NuScale ended the year with a $180.1 million loss, which was worse than anticipated. What's really curious about investors' reaction to today's price target hike,
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News
- Global Small Modular Reactor Market for Data Centers Industry Report 2024: A $278 Billion Market by 2028, Growing at a CAGR of 48.72% Driven by Burgeoning Demand for Energy Security and Sustainability [Yahoo! Finance]Yahoo! Finance
- NuScale Power to Hold First Quarter 2024 Earnings Conference Call on May 9, 2024Business Wire
- Seizing the New Nuclear Opportunity - Reuters Events: SMR & Advanced Reactor 2024 Returns to Atlanta in Just Three Weeks [Yahoo! Finance]Yahoo! Finance
- NuScale Power Shows Too Many Red Flags [Seeking Alpha]Seeking Alpha
- NuScale Power: Attractive, Yet High-Risk Nuclear Energy Business [Seeking Alpha]Seeking Alpha
SMR
Sec Filings
- 4/26/24 - Form DEFR14A
- 4/12/24 - Form DEF
- 4/11/24 - Form 8-K
- SMR's page on the SEC website