NuScale Power (NYSE:SMR) Stock Price Up 7.6% – Time to Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price shot up 7.6% during mid-day trading on Wednesday . The stock traded as high as $9.35 and last traded at $9.30. Approximately 35,998,409 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 30,453,809 shares. The stock had previously closed at $8.64.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Bank of America began coverage on NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price objective for the company. B. Riley Financial decreased their price target on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research note on Wednesday, June 24th. Citigroup decreased their target price on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating for the company in a research note on Thursday, August 6th. Finally, Barclays cut their price target on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Hold” and an average price target of $13.50.

NuScale Power Price Performance

The business has a 50-day simple moving average of $9.36 and a 200 day simple moving average of $11.24. The firm has a market cap of $4.04 billion, a PE ratio of -3.22 and a beta of 2.26.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share for the quarter, meeting the consensus estimate of ($0.13). The business had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The company’s revenue for the quarter was down 99.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. On average, equities analysts forecast that NuScale Power Corporation will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other news, COO Carl M. Fisher sold 18,771 shares of the business’s stock in a transaction dated Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total value of $175,696.56. Following the transaction, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Shinji Fujino sold 20,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $8.86, for a total value of $177,200.00. Following the completion of the transaction, the director directly owned 17,242 shares of the company’s stock, valued at approximately $152,764.12. This trade represents a 53.70% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC bought a new stake in NuScale Power during the first quarter worth approximately $59,141,000. Bank of America Corp DE increased its position in shares of NuScale Power by 33.4% during the 1st quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock valued at $22,355,000 after purchasing an additional 516,097 shares during the last quarter. Swedbank AB raised its holdings in NuScale Power by 36.3% during the 1st quarter. Swedbank AB now owns 1,502,300 shares of the company’s stock valued at $16,285,000 after buying an additional 400,240 shares during the period. Caz Investments LP lifted its position in NuScale Power by 10,000.0% in the fourth quarter. Caz Investments LP now owns 101,000 shares of the company’s stock worth $1,431,000 after buying an additional 100,000 shares during the last quarter. Finally, Seven Grand Managers LLC purchased a new position in NuScale Power during the fourth quarter worth $1,771,000. 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.