NuScale Power (NYSE:SMR) Trading Up 3.9% – Time to Buy?

NuScale Power Corporation (NYSE:SMR) shares were up 3.9% during trading on Friday . The stock traded as high as $13.10 and last traded at $12.67. Approximately 43,940,757 shares traded hands during trading, an increase of 50% from the average daily volume of 29,283,316 shares. The stock had previously closed at $12.19.

Wall Street Analyst Weigh In

Several research analysts have commented on SMR shares. TD Cowen downgraded shares of NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. The Goldman Sachs Group set a $9.00 price objective on shares of NuScale Power in a report on Friday, May 8th. Barclays dropped their price objective on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. Northland Securities set a $19.00 target price on shares of NuScale Power in a research report on Monday, May 11th. Finally, Bank of America assumed coverage on shares of NuScale Power in a research report on Friday, May 22nd. They set a “neutral” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Trading Up 3.9%

The company has a market capitalization of $4.63 billion, a PE ratio of -4.34 and a beta of 2.24. The stock’s 50-day moving average is $11.41 and its two-hundred day moving average is $15.24.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power’s quarterly revenue was down 95.8% on a year-over-year basis. On average, equities research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Clayton Scott sold 22,478 shares of the stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the sale, the insider directly owned 132,852 shares of the company’s stock, valued at $1,623,451.44. This represents a 14.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 18,570 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total transaction of $226,925.40. Following the completion of the sale, the chief financial officer directly owned 97,192 shares in the company, valued at $1,187,686.24. This trade represents a 16.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 40,108,335 shares of company stock worth $474,931,335 over the last three months. 1.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the stock. Cibc World Market Inc. increased its position in shares of NuScale Power by 3.8% during the third quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock worth $324,000 after acquiring an additional 329 shares during the period. MAI Capital Management increased its position in shares of NuScale Power by 37.0% during the third quarter. MAI Capital Management now owns 1,654 shares of the company’s stock worth $60,000 after acquiring an additional 447 shares during the period. Arizona State Retirement System increased its position in shares of NuScale Power by 1.7% during the third 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. increased its position in shares of NuScale Power by 32.4% during the fourth 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 position in shares of NuScale Power by 7.6% during the third quarter. Principal Financial Group Inc. now owns 9,706 shares of the company’s stock worth $349,000 after acquiring an additional 688 shares during the period. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.