NuScale Power (NYSE:SMR) Shares Up 13.7% – Time to Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price traded up 13.7% during mid-day trading on Thursday . The company traded as high as $11.80 and last traded at $11.7610. 67,300,452 shares were traded during mid-day trading, an increase of 119% from the average daily volume of 30,717,604 shares. The stock had previously closed at $10.34.

Analyst Ratings Changes

SMR has been the topic of several research reports. Zacks Research upgraded NuScale Power from a “strong sell” rating to a “hold” rating in a research note on Friday, February 20th. Barclays decreased their price objective on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. HSBC began coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. Citigroup cut their target price on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a research report on Monday, May 11th. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, NuScale Power has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Up 0.2%

The stock has a market cap of $4.30 billion, a PE ratio of -4.03 and a beta of 2.20. The firm has a 50-day simple moving average of $11.52 and a 200-day simple moving average of $14.13.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) 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 firm’s quarterly revenue was down 95.8% compared to the same quarter last year. On average, research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $11.81, for a total value of $159,435,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders sold 39,936,472 shares of company stock worth $472,831,169. Corporate insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of SMR. Royal Bank of Canada lifted its holdings in shares of NuScale Power by 623.4% in 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 boosted its position in shares of NuScale Power by 37.4% in the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after acquiring an additional 10,244 shares during the period. Integrated Wealth Concepts LLC purchased a new position in NuScale Power during the first quarter valued at approximately $390,000. Jones Financial Companies Lllp grew its stake in NuScale Power by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock valued at $238,000 after acquiring an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the period. 78.37% of the stock is currently 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.