NuScale Power (NYSE:SMR) Shares Gap Up – Time to Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $16.31, but opened at $17.95. NuScale Power shares last traded at $18.8850, with a volume of 25,162,137 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on SMR. The Goldman Sachs Group lowered their target price on NuScale Power from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. Cantor Fitzgerald initiated coverage on NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. BNP Paribas downgraded shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Barclays initiated coverage on shares of NuScale Power in a research note on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Finally, 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. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Reduce” and an average target price of $35.18.

NuScale Power Stock Up 17.2%

The company’s fifty day simple moving average is $23.01 and its two-hundred day simple moving average is $33.99. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of -6.67 and a beta of 2.12.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The firm had revenue of $8.24 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 1635.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. Equities research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Transactions at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. This represents a 46.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Corp Fluor sold 87,900 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total transaction of $3,479,082.00. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 948,761 shares of company stock worth $37,758,507. 1.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. MetLife Investment Management LLC increased its holdings in NuScale Power by 3.6% during the 1st quarter. MetLife Investment Management LLC now owns 53,100 shares of the company’s stock worth $752,000 after purchasing an additional 1,822 shares in the last quarter. Corebridge Financial Inc. boosted its position in shares of NuScale Power by 5.2% during the first quarter. Corebridge Financial Inc. now owns 44,302 shares of the company’s stock worth $627,000 after buying an additional 2,181 shares during the period. Royal Bank of Canada grew its holdings in shares of NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock worth $6,475,000 after buying an additional 394,065 shares in the last quarter. AQR Capital Management LLC raised its position in NuScale Power by 37.4% in the 1st quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after buying an additional 10,244 shares during the last quarter. Finally, Integrated Wealth Concepts LLC bought a new stake in NuScale Power in the 1st quarter valued at approximately $390,000. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

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.