NuScale Power (NYSE:SMR) Trading Up 7.1% – Should You Buy?

NuScale Power Corporation (NYSE:SMR)’s share price was up 7.1% during mid-day trading on Monday . The company traded as high as $9.13 and last traded at $9.0170. 27,595,855 shares were traded during mid-day trading, a decline of 10% from the average session volume of 30,499,076 shares. The stock had previously closed at $8.42.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Citigroup reissued a “sell” rating on shares of NuScale Power in a research note on Wednesday, July 22nd. Bank of America assumed coverage on shares of NuScale Power in a report on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target for the company. B. Riley Financial dropped their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating for the company in a research report on Friday, April 24th. Truist Financial initiated coverage on shares of NuScale Power in a report on Monday, July 13th. They issued a “hold” rating and a $10.00 price target on the stock. Finally, Barclays decreased their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.15.

NuScale Power Trading Down 0.7%

The firm has a market cap of $3.44 billion, a PE ratio of -3.23 and a beta of 2.26. The firm has a fifty day simple moving average of $9.86 and a two-hundred day simple moving average of $12.08.

NuScale Power (NYSE:SMR) last posted its earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm had revenue of $0.07 million for the quarter, compared to analysts’ expectations of $8.80 million. Equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vermillion & White Wealth Management Group LLC increased its position in shares of NuScale Power by 1,550.9% during the fourth quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock valued at $25,000 after buying an additional 1,675 shares during the period. Assetmark Inc. boosted its position in NuScale Power by 1,940.3% during the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after acquiring an additional 2,309 shares in the last quarter. Ameriflex Group Inc. purchased a new position in shares of NuScale Power during the 4th quarter worth approximately $30,000. Strategic Advocates LLC grew its holdings in shares of NuScale Power by 233.0% during the 4th quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock worth $33,000 after acquiring an additional 1,624 shares during the period. Finally, Harbour Investments Inc. raised its position in shares of NuScale Power by 32.4% in the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after acquiring an additional 592 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.