NuScale Power (NYSE:SMR) Trading 1.6% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR) shares traded up 1.6% on Friday . The stock traded as high as $16.61 and last traded at $16.0350. 27,925,420 shares were traded during trading, an increase of 83% from the average session volume of 15,240,549 shares. The stock had previously closed at $15.79.

Analysts Set New Price Targets

Several analysts have commented on SMR shares. Zacks Research downgraded shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. BNP Paribas lowered shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. Citigroup reiterated a “sell” rating and issued a $37.50 price objective (down from $46.00) on shares of NuScale Power in a report on Tuesday, October 21st. BNP Paribas Exane downgraded shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research report on Tuesday, October 21st. Finally, UBS Group set a $20.00 price target on NuScale Power in a research report on Tuesday, November 25th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, NuScale Power has a consensus rating of “Reduce” and a consensus target price of $36.04.

NuScale Power Trading Up 1.6%

The stock has a market cap of $4.79 billion, a P/E ratio of -5.61 and a beta of 2.09. The firm’s fifty day moving average is $28.99 and its 200 day moving average is $35.62.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The business had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The company’s revenue for the quarter was up 1635.2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.18) earnings per share. Research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corp Fluor sold 87,900 shares of the firm’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 10,125,344 shares of company stock worth $405,372,326 in the last ninety days. Insiders own 1.20% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently bought and sold shares of SMR. Private Wealth Partners LLC increased its holdings in shares of NuScale Power by 39.4% during the 2nd quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock worth $910,000 after purchasing an additional 6,500 shares during the period. Intech Investment Management LLC lifted its stake in shares of NuScale Power by 72.3% in the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after buying an additional 38,347 shares during the period. Truist Financial Corp grew its position in NuScale Power by 23.3% during the second quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after buying an additional 9,016 shares in the last quarter. Black Swift Group LLC bought a new position in NuScale Power during the second quarter valued at about $585,000. Finally, Geode Capital Management LLC increased its stake in NuScale Power by 25.2% during the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after acquiring an additional 574,295 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.