NuScale Power (NYSE:SMR) Shares Up 2.4% – Should You Buy?

NuScale Power Corporation (NYSE:SMR) rose 2.4% on Monday . The stock traded as high as $10.98 and last traded at $10.7560. Approximately 23,066,340 shares were traded during trading, a decline of 23% from the average daily volume of 30,086,996 shares. The stock had previously closed at $10.50.

Wall Street Analysts Forecast Growth

SMR has been the subject of several research analyst reports. Royal Bank Of Canada cut their price target on NuScale Power from $21.00 to $14.00 and set a “sector perform” rating for the company in a report on Monday, March 2nd. Citigroup cut their price target on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. Barclays cut their price target 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. Canaccord Genuity Group cut their price target on NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Northland Securities set a $19.00 price target on NuScale Power in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, NuScale Power currently has an average rating of “Hold” and a consensus price target of $15.92.

NuScale Power Stock Performance

The stock has a fifty day moving average price of $11.48 and a 200 day moving average price of $14.74. The stock has a market cap of $3.93 billion, a PE ratio of -3.68 and a beta of 2.20.

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

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total transaction of $162,945,000.00. Following the completion of the transaction, the director owned 26,436,472 shares in the company, valued at $319,088,217.04. The trade was a 33.80% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently bought and sold shares of SMR. Nemes Rush Group LLC purchased a new position in NuScale Power during the 3rd quarter valued at $25,000. Strategic Advocates LLC purchased a new stake in shares of NuScale Power in the 3rd quarter worth $25,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after buying an additional 1,675 shares during the period. Assetmark Inc. lifted its holdings in shares of NuScale Power by 1,940.3% in the 1st quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock worth $26,000 after buying an additional 2,309 shares during the period. Finally, Ameriflex Group Inc. purchased a new stake in shares of NuScale Power in the 4th quarter worth $30,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.