NuScale Power (NYSE:SMR) Shares Up 3.3% – Should You Buy?

NuScale Power Corporation (NYSE:SMR) shares were up 3.3% on Friday . The company traded as high as $10.30 and last traded at $9.8850. Approximately 30,873,737 shares were traded during trading, an increase of 2% from the average daily volume of 30,214,977 shares. The stock had previously closed at $9.57.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. HSBC initiated coverage on shares of NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. Bank of America started coverage on NuScale Power in a research report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price for the company. UBS Group dropped their price target on NuScale Power from $20.00 to $13.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a research note on Friday, March 27th. Finally, Citigroup decreased their price objective on NuScale Power from $9.00 to $7.00 and set a “sell” rating for the company in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $15.92.

NuScale Power Stock Performance

The business has a 50-day moving average price of $11.43 and a 200 day moving average price of $14.45. The stock has a market capitalization of $3.61 billion, a P/E ratio of -3.39 and a beta of 2.20.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.03). The company had revenue of $0.57 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm’s revenue was down 95.8% on a year-over-year basis. As a group, research analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 39,936,472 shares of company stock worth $472,831,169. Corporate insiders own 1.28% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Cibc World Market Inc. lifted its position in NuScale Power by 3.8% in the 3rd quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after acquiring an additional 329 shares in the last quarter. MAI Capital Management raised its stake in shares of NuScale Power by 37.0% in the third quarter. MAI Capital Management now owns 1,654 shares of the company’s stock worth $60,000 after purchasing an additional 447 shares during the last quarter. Harbour Investments Inc. lifted its holdings in shares of NuScale Power by 32.4% during the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock valued at $34,000 after purchasing an additional 592 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of NuScale Power by 7.6% during the third quarter. Principal Financial Group Inc. now owns 9,706 shares of the company’s stock valued at $349,000 after buying an additional 688 shares during the last quarter. Finally, Strategic Advocates LLC bought a new stake in NuScale Power in the 3rd quarter worth about $25,000. 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.