NuScale Power (NYSE:SMR) Shares Up 9.5% – Should You Buy?

NuScale Power Corporation (NYSE:SMR)’s share price shot up 9.5% during trading on Thursday . The company traded as high as $11.39 and last traded at $11.3780. 30,511,680 shares were traded during mid-day trading, an increase of 5% from the average session volume of 29,049,119 shares. The stock had previously closed at $10.39.

Analysts Set New Price Targets

Several brokerages have issued reports on SMR. Royal Bank Of Canada lowered their price objective on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Monday, March 2nd. Texas Capital upgraded shares of NuScale Power to a “strong-buy” rating in a research note on Tuesday, January 27th. HSBC initiated coverage on NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target on the stock. Northland Securities set a $19.00 price objective on NuScale Power in a research report on Monday, May 11th. Finally, UBS Group lowered their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, NuScale Power currently has a consensus rating of “Hold” and an average price target of $17.85.

NuScale Power Stock Up 0.4%

The company’s fifty day moving average price is $11.40 and its two-hundred day moving average price is $16.05. The firm has a market cap of $4.16 billion, a PE ratio of -3.89 and a beta of 2.24.

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

Insiders Place Their Bets

In other NuScale Power news, insider Clayton Scott sold 22,478 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total value of $274,681.16. Following the completion of the sale, the insider owned 132,852 shares of the company’s stock, valued at approximately $1,623,451.44. This trade represents a 14.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 18,570 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $226,925.40. Following the sale, the chief financial officer owned 97,192 shares in the company, valued at $1,187,686.24. The trade was a 16.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 40,572,082 shares of company stock worth $481,029,608. Corporate insiders own 1.28% of the company’s stock.

Institutional Trading of NuScale Power

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