NuScale Power (NYSE:SMR) Trading 4.4% Higher – Should You Buy?

NuScale Power Corporation (NYSE:SMR)’s share price traded up 4.4% during trading on Thursday . The company traded as high as $21.26 and last traded at $21.22. 22,090,435 shares changed hands during trading, an increase of 47% from the average session volume of 15,020,999 shares. The stock had previously closed at $20.32.

Analyst Ratings Changes

SMR has been the topic of several recent analyst reports. Bank of America reiterated an “underperform” rating and issued a $34.00 price target (down previously from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Wall Street Zen cut shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. BNP Paribas Exane downgraded shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. UBS Group set a $20.00 price objective on NuScale Power in a research report on Tuesday, November 25th. Finally, Royal Bank Of Canada decreased their target price on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat, NuScale Power has an average rating of “Reduce” and an average price target of $36.04.

NuScale Power Stock Performance

The stock has a market capitalization of $5.48 billion, a P/E ratio of -6.42 and a beta of 2.09. The business has a 50-day moving average price of $30.86 and a 200 day moving average price of $36.11.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The company had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. During the same quarter in the previous year, the firm posted ($0.18) EPS. The firm’s quarterly revenue was up 1635.2% compared to the same quarter last year. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the sale, the director directly owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 15,040,000 shares of company stock valued at $605,749,702. Insiders own 1.20% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the business. Clear Street Group Inc. bought a new position in NuScale Power during the 3rd quarter valued at about $155,616,000. Samsung C&T Corp lifted its position in NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after purchasing an additional 2,578,702 shares during the period. Van ECK Associates Corp lifted its position in NuScale Power by 67.2% during the third quarter. Van ECK Associates Corp now owns 5,287,814 shares of the company’s stock valued at $190,362,000 after purchasing an additional 2,125,250 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in NuScale Power by 1,220.7% in the first 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. bought a new stake in NuScale Power in the 3rd quarter worth approximately $51,985,000. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.