SMR Shares Surge as Exchange Traded Concepts Boosts Stake

Lead Exchange Traded Concepts LLC acquired 87,477 shares of NuScale Power Corporation (NYSE: SMR) on Friday, driving SMR stock up 5.3% to open at $38.06 in New York trading.

Nut Graf The fund’s 35.4% stake increase underscores growing institutional confidence in NuScale Power’s small modular reactor technology amid ongoing strategic developments and favorable analyst outlooks.

Key Developments

• Stake Increase: Exchange Traded Concepts LLC purchased 87,477 additional shares, raising its holdings to 334,898 shares worth $13.25 million as of its latest 13F filing.
• Stock Movement: SMR shares climbed 5.3% at the open, reflecting heightened buying interest and a market capitalization of approximately $10.84 billion.
• Insider Sales: Director Corp Fluor sold 1,193,504 SMR shares on September 18 at an average price of $38.95, trimming an 8.74% position; CFO Robert Ramsey Hamady offloaded 30,641 shares on August 27 at $35.59.

Analyst Coverage

• Royal Bank of Canada initiated coverage with a Sector Perform rating and a $35 price target.
• BNP Paribas Exane assigned a Neutral rating with a $41 objective.
• CLSA set an Outperform rating at $41.
• Bank of America issued a Neutral rating and $36 target. Three analysts rate SMR as a Buy, while ten recommend Hold, yielding a consensus Hold rating and an average target of $36.09.

Market Context NuScale Power, valued at $10.8 billion, continues to strengthen its position in the nuclear energy sector through partnerships such as the 6 GW SMR deployment with ENTRA1 Energy and TVA, which spurred higher price targets and reaffirmed ratings from Canaccord Genuity, RBC, and UBS.