NuScale Power (NYSE:SMR) Reaches New 1-Year High – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $38.39 and last traded at $36.38, with a volume of 6066091 shares changing hands. The stock had previously closed at $35.24.

Analyst Upgrades and Downgrades

SMR has been the subject of several recent research reports. BTIG Research reissued a “buy” rating on shares of NuScale Power in a research report on Tuesday, May 13th. CLSA set a $41.00 price objective on NuScale Power and gave the company an “outperform” rating in a research report on Tuesday, May 27th. UBS Group raised their price objective on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the stock a “neutral” rating in a research report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

NuScale Power Trading Up 20.9%

The firm has a 50-day moving average price of $22.07 and a 200-day moving average price of $21.20. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $11.88 billion, a PE ratio of -43.98 and a beta of 2.00.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. The firm had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. As a group, equities analysts anticipate that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares of the company’s stock, valued at approximately $7,810,211.91. The trade was a 6.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the business’s stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the transaction, the vice president now directly owns 1,218 shares of the company’s stock, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 128,278 shares of company stock valued at $2,286,280. 1.27% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC purchased a new stake in shares of NuScale Power during the 4th quarter valued at about $202,000. Allspring Global Investments Holdings LLC increased its position in shares of NuScale Power by 467.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company’s stock valued at $1,537,000 after purchasing an additional 70,638 shares during the last quarter. Van ECK Associates Corp increased its position in shares of NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after purchasing an additional 511,168 shares during the last quarter. Rhumbline Advisers increased its position in shares of NuScale Power by 9.3% during the 4th quarter. Rhumbline Advisers now owns 111,404 shares of the company’s stock valued at $1,997,000 after purchasing an additional 9,485 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of NuScale Power by 781.5% during the 4th quarter. Allworth Financial LP now owns 8,815 shares of the company’s stock valued at $158,000 after purchasing an additional 7,815 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.