NuScale Power (NYSE:SMR) Trading 4% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price rose 4% during trading on Wednesday . The company traded as high as $9.65 and last traded at $9.5750. 27,434,439 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 30,824,488 shares. The stock had previously closed at $9.21.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research note on Friday, May 8th. Royal Bank Of Canada reduced their price objective on shares of NuScale Power from $14.00 to $10.00 and set a “sector perform” rating for the company in a research report on Tuesday, August 11th. B. Riley Financial decreased their target price on NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a research report on Friday, August 14th. Northland Securities set a $16.00 price target on shares of NuScale Power in a report on Thursday, August 6th. Finally, Barclays dropped their price objective on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of “Hold” and a consensus price target of $13.50.

NuScale Power Price Performance

The company has a 50 day simple moving average of $9.13 and a 200-day simple moving average of $10.83. The firm has a market cap of $4.11 billion, a PE ratio of -3.28 and a beta of 2.30.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting the consensus estimate of ($0.13). The firm had revenue of $0.07 million for the quarter, compared to the consensus estimate of $8.80 million. NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The company’s quarterly revenue was down 99.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.11) earnings per share. On average, sell-side analysts predict that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, COO Carl M. Fisher sold 18,771 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total transaction of $175,696.56. Following the completion of the transaction, the chief operating officer owned 114,718 shares of the company’s stock, valued at approximately $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Robert Ramsey Hamady sold 29,880 shares of the firm’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $9.39, for a total value of $280,573.20. Following the transaction, the chief financial officer directly owned 124,235 shares of the company’s stock, valued at approximately $1,166,566.65. This trade represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 68,651 shares of company stock worth $633,470. Company insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Vanguard Group Inc. grew its position in NuScale Power by 40.5% in the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after purchasing an additional 4,482,254 shares during the period. Van ECK Associates Corp boosted its stake in shares of NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after buying an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of NuScale Power in the first quarter worth $59,141,000. Morgan Stanley grew its holdings in shares of NuScale Power by 81.0% in the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after acquiring an additional 2,361,532 shares during the period. Finally, Samsung C&T Corp increased its position 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 acquiring an additional 2,578,702 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other 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.