NuScale Power (NYSE:SMR) Stock Price Up 2.9% – Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMRGet Free Report) shot up 2.9% on Wednesday . The stock traded as high as $12.56 and last traded at $12.3810. 16,788,812 shares traded hands during trading, a decline of 39% from the average session volume of 27,531,607 shares. The stock had previously closed at $12.03.

NuScale Power News Summary

Here are the key news stories impacting NuScale Power this week:

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. B. Riley Financial dropped their price objective on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 22nd. Bank of America upgraded shares of NuScale Power from an “underperform” rating to a “neutral” rating and set a $28.00 price target on the stock in a research note on Friday, January 9th. Northland Securities raised shares of NuScale Power from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a report on Friday, February 27th. UBS Group set a $20.00 price objective on shares of NuScale Power in a research note on Tuesday, November 25th. Finally, Zacks Research upgraded NuScale Power from a “strong sell” rating to a “hold” rating in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, NuScale Power presently has an average rating of “Hold” and an average target price of $21.42.

View Our Latest Report on SMR

NuScale Power Price Performance

The stock has a market capitalization of $3.70 billion, a PE ratio of -4.28 and a beta of 2.19. The business’s fifty day moving average price is $16.35 and its 200-day moving average price is $25.89.

NuScale Power (NYSE:SMRGet Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.80) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.70). The firm had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $8.76 million. NuScale Power had a negative net margin of 1,130.26% and a negative return on equity of 55.23%. On average, analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, CEO John Lawrence Hopkins sold 82,667 shares of NuScale Power stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total value of $1,010,190.74. Following the transaction, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at $1,429,959.96. The trade was a 41.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Corp Fluor sold 463,747 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $13.15, for a total transaction of $6,098,273.05. Following the sale, the director directly owned 39,936,472 shares of the company’s stock, valued at $525,164,606.80. The trade was a 1.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 635,610 shares of company stock valued at $8,198,439. 1.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings 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 buying an additional 4,482,254 shares during the period. Van ECK Associates Corp raised its stake in NuScale Power by 117.8% in the fourth 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock valued at $263,195,000 after purchasing an additional 1,346,796 shares during the period. Morgan Stanley boosted its position in shares of NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock valued at $74,788,000 after purchasing an additional 2,361,532 shares in the last quarter. Finally, Samsung C&T Corp grew its position in shares of NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after buying an additional 2,578,702 shares during the period. Institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

(Get Free Report)

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.

Further Reading

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