NuScale Power (NYSE:SMR) Trading Up 3.4% – Time to Buy?

NuScale Power Corporation (NYSE:SMR)’s share price traded up 3.4% during mid-day trading on Wednesday . The stock traded as high as $10.65 and last traded at $10.40. 21,463,326 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 29,030,625 shares. The stock had previously closed at $10.06.

Analysts Set New Price Targets

A number of research firms have weighed in on SMR. Barclays decreased their target price on shares of NuScale Power from $45.00 to $15.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. TD Cowen downgraded shares of NuScale Power from a “buy” rating to a “hold” rating in a research report on Wednesday, February 11th. HSBC began coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They set a “hold” rating and a $13.00 target price for the company. Texas Capital raised shares of NuScale Power to a “strong-buy” rating in a research report on Tuesday, January 27th. Finally, Canaccord Genuity Group decreased their target price on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating for the company in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, NuScale Power currently has an average rating of “Hold” and a consensus price target of $19.08.

NuScale Power Stock Performance

The stock has a market capitalization of $3.80 billion, a P/E ratio of -3.56 and a beta of 2.24. The business has a fifty day simple moving average of $11.47 and a 200-day simple moving average of $16.54.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The business had revenue of $0.57 million for the quarter, compared to the consensus estimate 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 business’s revenue for the quarter was down 95.8% on a year-over-year basis. On average, sell-side analysts anticipate that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jose N. Reyes, Jr. sold 25,951 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $12.22, for a total value of $317,121.22. Following the transaction, the chief technology officer directly owned 268,081 shares in the company, valued at $3,275,949.82. This trade represents a 8.83% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the completion of the transaction, the director owned 26,436,472 shares in the company, valued at approximately $319,088,217.04. This represents a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,572,082 shares of company stock worth $481,029,608 over the last quarter. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently modified their holdings of SMR. Bank of America Corp DE raised its position in NuScale Power by 33.4% in the 1st quarter. Bank of America Corp DE now owns 2,062,232 shares of the company’s stock valued at $22,355,000 after buying an additional 516,097 shares during the last quarter. Janus Henderson Group PLC increased its position in shares of NuScale Power by 23.2% during the 1st quarter. Janus Henderson Group PLC now owns 80,715 shares of the company’s stock valued at $874,000 after purchasing an additional 15,215 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of NuScale Power by 16.7% during the 1st quarter. Arkadios Wealth Advisors now owns 58,331 shares of the company’s stock valued at $632,000 after purchasing an additional 8,337 shares during the last quarter. IFS Group LLC purchased a new stake in shares of NuScale Power during the 1st quarter valued at $214,000. Finally, Amundi increased its position in shares of NuScale Power by 85.6% during the 1st quarter. Amundi now owns 18,583 shares of the company’s stock valued at $201,000 after purchasing an additional 8,568 shares during the last quarter. 78.37% of the stock is currently owned by 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.