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

NuScale Power Corporation (NYSE:SMR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $19.00, but opened at $20.16. NuScale Power shares last traded at $20.4710, with a volume of 19,594,410 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SMR shares. Citigroup reaffirmed a “sell” rating and set a $37.50 price target (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. The Goldman Sachs Group decreased their price target on NuScale Power from $27.00 to $23.00 and set a “neutral” rating for the company in a research note on Friday, December 12th. BNP Paribas Exane downgraded NuScale Power from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 21st. Wall Street Zen lowered NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Finally, Royal Bank Of Canada set a $21.00 price objective on shares of NuScale Power in a research report on Tuesday. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $33.96.

NuScale Power Stock Down 2.4%

The stock has a market capitalization of $5.54 billion, a PE ratio of -6.53 and a beta of 2.12. The firm has a 50 day moving average price of $18.85 and a 200-day moving average price of $32.44.

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 during the quarter, compared to analyst estimates 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 quarterly revenue was up 1635.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. Equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power 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 transaction of $886,800.00. Following the completion of the transaction, the chief financial officer owned 46,283 shares in the company, valued at approximately $1,026,094.11. This trade represents a 46.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SMR. Private Wealth Partners LLC increased its holdings in shares of NuScale Power by 39.4% during the 2nd quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after purchasing an additional 6,500 shares in the last quarter. Intech Investment Management LLC boosted its holdings in NuScale Power by 72.3% during the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock worth $3,614,000 after buying an additional 38,347 shares in the last quarter. Truist Financial Corp grew its position in NuScale Power by 23.3% during the second quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after buying an additional 9,016 shares during the period. Black Swift Group LLC purchased a new position in NuScale Power in the second quarter valued at $585,000. Finally, Geode Capital Management LLC raised its position in shares of NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after acquiring an additional 574,295 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.