NuScale Power (NYSE:SMR) Trading 6.7% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR)’s share price rose 6.7% on Monday . The stock traded as high as $19.98 and last traded at $19.8460. 22,337,530 shares changed hands during trading, an increase of 53% from the average session volume of 14,593,087 shares. The stock had previously closed at $18.60.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SMR shares. UBS Group increased their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a “neutral” rating in a research note on Monday, August 11th. Cantor Fitzgerald initiated coverage on NuScale Power in a research report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price target on the stock. Royal Bank Of Canada cut their price target on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a research note on Monday, November 10th. Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Canaccord Genuity Group raised their target price on shares of NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $37.50.

NuScale Power Trading Up 6.7%

The stock has a market capitalization of $5.92 billion, a P/E ratio of -6.94 and a beta of 2.03. The company has a 50-day moving average price of $36.25 and a 200 day moving average price of $36.66.

NuScale Power (NYSE:SMR) last posted its 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 company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. NuScale Power’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. As a group, research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity

In related news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares in the company, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 15,030,641 shares of company stock valued at $605,953,415. 1.20% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional purchased a new stake in shares of NuScale Power during the 3rd quarter valued at $25,000. Nemes Rush Group LLC purchased a new stake in NuScale Power in the third quarter valued at about $25,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares during the last quarter. Indiana Trust & Investment Management Co acquired a new stake in NuScale Power in the third quarter worth about $34,000. Finally, Accredited Wealth Management LLC purchased a new stake in shares of NuScale Power during the third quarter worth about $35,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.