NuScale Power (NYSE:SMR) Sets New 52-Week High – Time to Buy?

NuScale Power Co. (NYSE:SMR) reached a new 52-week high on Monday . The company traded as high as $45.31 and last traded at $44.07, with a volume of 5799482 shares. The stock had previously closed at $38.82.

Analysts Set New Price Targets

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

NuScale Power Stock Performance

The stock has a fifty day simple moving average of $23.10 and a 200-day simple moving average of $21.28. The stock has a market cap of $12.10 billion, a P/E ratio of -44.67 and a beta of 2.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

NuScale Power (NYSE:SMR) last issued its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. On average, equities analysts expect that NuScale Power Co. will post -0.73 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares of the company’s stock, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Clayton Scott sold 10,019 shares of the business’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the sale, the insider now directly owns 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,278 shares of company stock worth $2,286,280. Corporate insiders own 1.27% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC purchased a new stake in NuScale Power during the fourth quarter valued at about $33,000. Quantbot Technologies LP purchased a new position in NuScale Power in the 1st quarter valued at approximately $27,000. Venturi Wealth Management LLC raised its holdings in NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the period. Twin Tree Management LP purchased a new position in shares of NuScale Power in the fourth quarter valued at $42,000. Finally, Amalgamated Bank lifted its holdings in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 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 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.