NuScale Power (NYSE:SMR) Trading 1.3% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price was up 1.3% on Friday . The stock traded as high as $41.25 and last traded at $40.03. Approximately 17,417,516 shares traded hands during trading, an increase of 39% from the average daily volume of 12,512,855 shares. The stock had previously closed at $39.51.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SMR shares. BTIG Research lowered shares of NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. Northland Securities started coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a “market perform” rating and a $35.00 price objective for the company. Citigroup started coverage on shares of NuScale Power in a research report on Monday, June 23rd. They set a “neutral” rating and a $46.00 price objective for the company. Barclays started coverage on shares of NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective for the company. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of NuScale Power in a research report on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, NuScale Power currently has an average rating of “Hold” and a consensus target price of $36.67.

NuScale Power Price Performance

The stock’s fifty day moving average price is $38.88 and its 200-day moving average price is $31.56. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of -33.64 and a beta of 2.02.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 532,354 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $36.52, for a total transaction of $19,441,568.08. Following the completion of the sale, the director directly owned 3,424,278 shares in the company, valued at approximately $125,054,632.56. This trade represents a 13.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 11,624,569 shares of company stock worth $468,599,880 in the last ninety days. Company insiders own 1.27% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently made changes to their positions in the stock. Infini Capital Management Ltd acquired a new stake in shares of NuScale Power during the second quarter worth approximately $989,000. Orion Porfolio Solutions LLC boosted its holdings in shares of NuScale Power by 9.4% during the second quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company’s stock worth $1,292,000 after purchasing an additional 2,798 shares during the period. Marex Group plc acquired a new stake in shares of NuScale Power during the second quarter worth approximately $717,000. Delos Wealth Advisors LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $51,000. Finally, FORA Capital LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $5,549,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.