What's Going On With NuScale Power Stock on Thursday?
Portfolio Pulse from Nabaparna Bhattacharya
NuScale Power (NYSE:SMR) stock is down over 5% on Thursday after a surge on Wednesday, driven by Amazon's $500 million investment in nuclear power. AWS plans to build Small Modular Reactors (SMRs) and has agreements with Energy Northwest and Dominion Energy (NYSE:D). The nuclear sector is gaining attention with increased support from tech companies and government funding. Analyst Eric Stine maintains a Buy rating on NuScale, raising the price target to $21.
October 17, 2024 | 3:27 pm
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NEUTRAL IMPACT
NuScale Power's stock is down over 5% after a surge due to Amazon's investment in nuclear power. Analyst Eric Stine maintains a Buy rating and raises the price target to $21.
NuScale Power's stock experienced a decline after a previous surge, influenced by Amazon's investment in nuclear power. The analyst's positive rating and increased price target suggest potential future gains, but the immediate market reaction is neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Amazon's AWS announced a $500 million investment in nuclear power, including agreements to build SMRs. This move highlights Amazon's commitment to clean energy and could positively impact its stock.
Amazon's investment in nuclear power aligns with its clean energy goals, potentially enhancing its reputation and long-term growth prospects. This strategic move could positively influence its stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
POSITIVE IMPACT
Dominion Energy is involved in a partnership with AWS to explore nuclear projects in Virginia, which could enhance its clean energy portfolio.
Dominion Energy's partnership with AWS to explore nuclear projects could strengthen its clean energy offerings, potentially benefiting its stock in the long term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Themes ETF Trust Themes Uranium & Nuclear ETF provides exposure to nuclear stocks like NuScale Power, which are gaining attention due to increased investments in nuclear energy.
The ETF provides exposure to nuclear stocks, which are gaining interest due to increased investments in nuclear energy. This could lead to positive performance for the ETF.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 50