NuScale Power (NYSE:SMR) Shares Up 3.3% – Time to Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price traded up 3.3% during trading on Tuesday . The company traded as high as $8.69 and last traded at $8.6250. 23,761,437 shares changed hands during trading, a decline of 22% from the average session volume of 30,378,801 shares. The stock had previously closed at $8.35.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SMR. Northland Securities set a $19.00 price target on NuScale Power in a report on Monday, May 11th. HSBC initiated coverage on NuScale Power in a research note on Thursday, April 23rd. They set a “hold” rating and a $13.00 price objective on the stock. UBS Group lowered their target price on shares of NuScale Power from $20.00 to $13.00 and set a “neutral” rating for the company in a research note on Wednesday, March 18th. Truist Financial initiated coverage on shares of NuScale Power in a report on Monday. They set a “hold” rating and a $10.00 target price on the stock. Finally, B. Riley Financial reduced their price target on shares of NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, NuScale Power presently has an average rating of “Hold” and an average price target of $15.46.

NuScale Power Price Performance

The company has a fifty day moving average price of $10.77 and a 200 day moving average price of $12.98. The company has a market capitalization of $3.05 billion, a P/E ratio of -2.86 and a beta of 2.24.

NuScale Power (NYSE:SMR) last announced 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). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The company had revenue of $0.56 million during the quarter, compared to the consensus estimate of $7.00 million. NuScale Power’s revenue for the quarter was down 95.8% on a year-over-year basis. On average, equities research analysts predict that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In related news, Director Corp Fluor sold 13,500,000 shares of the stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total value of $159,435,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada increased its holdings in shares of NuScale Power by 623.4% during the first quarter. Royal Bank of Canada now owns 457,276 shares of the company’s stock valued at $6,475,000 after purchasing an additional 394,065 shares during the period. AQR Capital Management LLC increased its stake in shares of NuScale Power by 37.4% during the first quarter. AQR Capital Management LLC now owns 37,614 shares of the company’s stock valued at $533,000 after acquiring an additional 10,244 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of NuScale Power during the first quarter valued at approximately $390,000. Jones Financial Companies Lllp raised its holdings in NuScale Power by 9.1% during the first quarter. Jones Financial Companies Lllp now owns 16,793 shares of the company’s stock worth $238,000 after purchasing an additional 1,394 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position 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 period. 78.37% of the stock is currently 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.