NuScale Power (NYSE:SMR) Shares Up 9.5% – Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMR) rose 9.5% on Thursday . The company traded as high as $11.39 and last traded at $11.3780. Approximately 30,511,680 shares were traded during trading, an increase of 5% from the average daily volume of 29,049,119 shares. The stock had previously closed at $10.39.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of research analyst reports. B. Riley Financial dropped their price target on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research note on Friday, April 24th. Texas Capital upgraded shares of NuScale Power to a “strong-buy” rating in a research note on Tuesday, January 27th. HSBC assumed coverage on shares of NuScale Power in a report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. Citigroup decreased their price target on shares of NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Hold” and a consensus price target of $19.08.

NuScale Power Price Performance

The stock has a market cap of $4.16 billion, a price-to-earnings ratio of -3.90 and a beta of 2.24. The stock has a fifty day moving average of $11.44 and a 200 day moving average of $16.32.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $0.57 million for the quarter, compared to analyst estimates of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business’s revenue for the quarter was down 95.8% on a year-over-year basis. As a group, equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 82,667 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the sale, the chief executive officer directly owned 117,018 shares in the company, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 40,572,082 shares of company stock valued at $481,029,608. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Cibc World Market Inc. raised its position in NuScale Power by 3.8% during the third quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after acquiring an additional 329 shares in the last quarter. MAI Capital Management grew its stake in shares of NuScale Power by 37.0% during the 3rd quarter. MAI Capital Management now owns 1,654 shares of the company’s stock worth $60,000 after purchasing an additional 447 shares during the period. Arizona State Retirement System grew its stake in shares of NuScale Power by 1.7% during the 3rd quarter. Arizona State Retirement System now owns 35,523 shares of the company’s stock worth $1,279,000 after purchasing an additional 587 shares during the period. Harbour Investments Inc. grew its stake in shares of NuScale Power by 32.4% during the 4th quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after purchasing an additional 592 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in NuScale Power by 7.6% during the third quarter. Principal Financial Group Inc. now owns 9,706 shares of the company’s stock worth $349,000 after buying an additional 688 shares in the last quarter. Institutional investors and hedge funds 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.