NuScale Power (NYSE:SMR) Trading Up 15.4% – Still a Buy?

NuScale Power Corporation (NYSE:SMR) shares were up 15.4% during mid-day trading on Tuesday . The company traded as high as $11.37 and last traded at $11.1930. Approximately 53,635,028 shares traded hands during mid-day trading, an increase of 74% from the average session volume of 30,830,277 shares. The stock had previously closed at $9.70.

Analyst Ratings Changes

Several research analysts have commented on SMR shares. Canaccord Genuity Group dropped their price target on NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Citigroup lowered their price objective on shares of NuScale Power from $7.50 to $6.50 and set a “sell” rating on the stock in a research note on Thursday, August 6th. Northland Securities set a $16.00 target price on shares of NuScale Power in a research note on Thursday, August 6th. Finally, Bank of America assumed coverage on shares of NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $13.50.

NuScale Power Price Performance

The stock’s 50 day simple moving average is $9.09 and its two-hundred day simple moving average is $10.70. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of -3.83 and a beta of 2.30.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.13). NuScale Power had a negative net margin of 3,888.70% and a negative return on equity of 35.59%. The firm had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same quarter in the previous year, the firm posted ($0.11) EPS. The business’s revenue for the quarter was down 99.1% on a year-over-year basis. As a group, analysts predict that NuScale Power Corporation will post -0.64 earnings per share for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, CFO Robert Hamady sold 29,880 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the completion of the transaction, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This trade represents a 19.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Carl M. Fisher sold 18,771 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares in the company, valued at $1,073,760.48. The trade was a 14.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 68,651 shares of company stock valued at $633,470 over the last quarter. 1.28% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its stake in NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the 1st quarter valued at $59,141,000. Voloridge Investment Management LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at $48,993,000. California State Teachers Retirement System grew its holdings in shares of NuScale Power by 1,622.5% in the 2nd quarter. California State Teachers Retirement System now owns 3,455,305 shares of the company’s stock worth $344,497,000 after purchasing an additional 3,254,704 shares during the last quarter. Finally, Samsung C&T Corp grew its holdings in shares of NuScale Power by 98.9% in the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after purchasing an additional 2,578,702 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

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.