NuScale Power (NYSE:SMR) Shares Up 6.9% – Time to Buy?

NuScale Power Corporation (NYSE:SMRGet Free Report)’s share price shot up 6.9% during trading on Tuesday . The company traded as high as $12.69 and last traded at $12.19. 44,552,269 shares were traded during mid-day trading, an increase of 52% from the average session volume of 29,219,256 shares. The stock had previously closed at $11.40.

More NuScale Power News

Here are the key news stories impacting NuScale Power this week:

Wall Street Analyst Weigh In

A number of research firms have commented on SMR. Northland Securities set a $19.00 target price on NuScale Power in a report on Monday, May 11th. UBS Group reduced their target price on NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Barclays reduced their target price on NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. TD Cowen downgraded NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. Finally, Bank of America began coverage on NuScale Power in a report on Friday. They issued a “neutral” rating and a $12.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and an average price target of $17.85.

Get Our Latest Research Report on SMR

NuScale Power Trading Up 6.9%

The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -4.17 and a beta of 2.24. The firm has a 50 day moving average price of $11.40 and a 200-day moving average price of $15.71.

NuScale Power (NYSE:SMRGet Free Report) last released 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). The firm had revenue of $0.57 million for the quarter, compared to analyst estimates 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 firm’s revenue was down 95.8% on a year-over-year basis. As a group, equities analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In related news, CEO John Lawrence Hopkins sold 82,667 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were 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 owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Carl M. Fisher sold 22,197 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $271,247.34. Following the completion of the transaction, the chief operating officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 40,572,082 shares of company stock worth $481,029,608. Insiders own 1.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Strategic Advocates LLC acquired a new position in NuScale Power in the 3rd quarter valued at about $25,000. Nemes Rush Group LLC acquired a new position in NuScale Power in the 3rd quarter valued at about $25,000. Accredited Wealth Management LLC acquired a new position in NuScale Power in the 3rd quarter valued at about $35,000. Triumph Capital Management acquired a new position in NuScale Power in the 3rd quarter valued at about $37,000. Finally, Ameritas Advisory Services LLC raised its stake in NuScale Power by 292.9% in the 3rd quarter. Ameritas Advisory Services LLC now owns 1,100 shares of the company’s stock valued at $40,000 after purchasing an additional 820 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Company Profile

(Get Free Report)

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.

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