NuScale Power (NYSE:SMR) Trading 6.7% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR) shares traded up 6.7% during mid-day trading on Friday . The company traded as high as $20.55 and last traded at $20.17. 34,612,085 shares traded hands during trading, a decline of 1% from the average session volume of 34,865,363 shares. The stock had previously closed at $18.90.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cantor Fitzgerald started coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price target on the stock. The Goldman Sachs Group cut their target price on shares of NuScale Power from $27.00 to $23.00 and set a “neutral” rating on the stock in a report on Friday, December 12th. Zacks Research raised shares of NuScale Power from a “strong sell” rating to a “hold” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Monday, December 29th. Finally, UBS Group set a $20.00 target price on NuScale Power in a report on Tuesday, November 25th. Four research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, NuScale Power has an average rating of “Hold” and a consensus target price of $34.75.

NuScale Power Stock Up 6.7%

The firm has a market capitalization of $6.02 billion, a P/E ratio of -7.05 and a beta of 2.12. The stock has a fifty day moving average of $19.17 and a 200-day moving average of $32.69.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The business had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.NuScale Power’s revenue was up 1635.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) earnings per share. Sell-side analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the sale, the chief financial officer owned 46,283 shares of the company’s stock, valued at approximately $1,026,094.11. The trade was a 46.36% 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. 1.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Clear Street Group Inc. bought a new position in shares of NuScale Power in the third quarter valued at $155,616,000. Samsung C&T Corp lifted its stake in NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after acquiring an additional 2,578,702 shares during the last quarter. Van ECK Associates Corp grew its position in shares of NuScale Power by 67.2% in the 3rd quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock valued at $190,362,000 after acquiring an additional 2,125,250 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in shares of NuScale Power during the 3rd quarter worth about $51,985,000. 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.