SMR - Why NuScale Power Stock Just Jumped 12 Percent
2023-08-10 10:33:11 ET
NuScale Power (NYSE: SMR) , a start-up developer of nuclear power plants known as small modular reactors (SMRs), is lighting up the stock market Thursday morning after reporting earnings last night.
As of 9:55 a.m. ET today, NuScale stock is up 12%.
NuScale is still in the very early stages of becoming a profit-making company. Sales for the second quarter more than doubled over the year-ago period, but still amounted to just $5.8 million. And while the company earned a tiny gross profit in the quarter (even less than a year ago), heavy spending on operating costs and, especially, research and development left it with a $29.7 million net loss on the bottom line, or $0.13 per share, twice as much as a year ago.
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Why NuScale Power Stock Just Jumped 12 Percent