NuScale Power (NYSE:SMR) Trading Up 1.9% – Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMR) were up 1.9% during mid-day trading on Monday . The stock traded as high as $13.40 and last traded at $12.9090. Approximately 41,048,861 shares were traded during trading, an increase of 40% from the average daily volume of 29,400,637 shares. The stock had previously closed at $12.67.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SMR shares. Northland Securities set a $19.00 price target on NuScale Power in a research note on Monday, May 11th. The Goldman Sachs Group set a $9.00 price target on NuScale Power in a research note on Friday, May 8th. Canaccord Genuity Group decreased their price objective on NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. HSBC began coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 target price for the company. Finally, UBS Group reduced their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Up 1.9%

The stock has a market cap of $4.72 billion, a PE ratio of -4.42 and a beta of 2.20. The business has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $15.14.

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

Insider Buying and Selling

In other news, COO Carl M. Fisher sold 22,197 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $271,247.34. Following the completion of the transaction, the chief operating officer owned 140,141 shares of the company’s stock, valued at $1,712,523.02. The trade was a 13.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 82,667 shares of NuScale Power stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $1,010,190.74. Following the completion of the transaction, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. This represents a 41.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 40,059,906 shares of company stock worth $474,339,533 in the last 90 days. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised 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 buying an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp raised its position in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in 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 worth $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC purchased a new position in NuScale Power in the 1st quarter worth about $59,141,000. Finally, Morgan Stanley raised its position in NuScale Power by 81.0% in the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after buying an additional 2,361,532 shares during the last quarter. 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.