NuScale Power (NYSE:SMR) Shares Gap Up – Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMR) gapped up prior to trading 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.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Citigroup reissued a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. UBS Group set a $20.00 target price on NuScale Power in a research note on Tuesday, November 25th. Bank of America reiterated an “underperform” rating and set a $34.00 target price (down from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a report on Monday, December 29th. Finally, Cantor Fitzgerald started coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price objective for the company. Four equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, NuScale Power currently has an average rating of “Reduce” and an average price target of $35.18.

NuScale Power Stock Down 0.7%

The company has a 50 day simple moving average of $22.16 and a 200 day simple moving average of $33.72. The company has a market capitalization of $5.80 billion, a price-to-earnings ratio of -6.80 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) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The firm had revenue of $8.24 million during the quarter, compared to analyst estimates of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The business’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.18) earnings per share. On average, research analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $22.17, for a total value of $886,800.00. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company’s stock, valued at $1,026,094.11. This represents a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the business. Private Wealth Partners LLC boosted its stake in NuScale Power by 39.4% in the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after acquiring an additional 6,500 shares during the period. Intech Investment Management LLC boosted its position in NuScale Power by 72.3% during the 2nd quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after purchasing an additional 38,347 shares during the period. Truist Financial Corp grew its stake in NuScale Power by 23.3% during the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after buying an additional 9,016 shares during the last quarter. Black Swift Group LLC bought a new position in NuScale Power during the 2nd quarter worth $585,000. Finally, Geode Capital Management LLC increased its position in NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after buying an additional 574,295 shares during the period. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.