NuScale Power (NYSE:SMR) Trading Up 13.4% – Should You Buy?

Shares of NuScale Power Corporation (NYSE:SMR) were up 13.4% on Thursday . The stock traded as high as $8.68 and last traded at $8.61. 34,756,949 shares were traded during mid-day trading, an increase of 14% from the average session volume of 30,459,830 shares. The stock had previously closed at $7.59.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SMR shares. Bank of America began coverage on shares of NuScale Power in a research note on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target on the stock. Barclays decreased their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Truist Financial started coverage on NuScale Power in a research note on Monday, July 13th. They set a “hold” rating and a $10.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $15.15.

NuScale Power Price Performance

The firm has a market cap of $3.10 billion, a price-to-earnings ratio of -2.90 and a beta of 2.24. The business’s 50-day moving average price is $9.96 and its two-hundred day moving average price is $12.28.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business’s revenue was down 95.8% compared to the same quarter last year. Equities analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in shares of NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after purchasing an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC acquired a new position in NuScale Power in the first quarter worth about $59,141,000. Vanguard Group Inc. increased its holdings in NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after buying an additional 4,482,254 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in NuScale Power in the fourth quarter valued at about $48,993,000. Finally, Samsung C&T Corp raised its stake in NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after buying an additional 2,578,702 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

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.