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

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

Analyst Ratings Changes

A number of research analysts have weighed in on SMR shares. Royal Bank Of Canada cut their price target on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Monday, March 2nd. Northland Securities set a $19.00 price target on shares of NuScale Power in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Friday, March 27th. Canaccord Genuity Group lowered their price objective on shares of NuScale Power from $60.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, TD Cowen downgraded shares of NuScale Power from a “buy” rating to a “hold” rating in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $19.08.

NuScale Power Stock Up 3.4%

The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of -3.56 and a beta of 2.24. The stock’s fifty day moving average is $11.47 and its two-hundred day moving average is $16.54.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates 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 $0.57 million for the quarter, compared to the consensus estimate of $7.00 million. The firm’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, analysts anticipate that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity

In other news, insider Clayton Scott sold 22,478 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $12.22, for a total value of $274,681.16. Following the completion of the sale, the insider owned 132,852 shares of the company’s stock, valued at approximately $1,623,451.44. The trade was a 14.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 82,667 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $12.22, for a total transaction of $1,010,190.74. Following the completion of the sale, the chief executive officer directly owned 117,018 shares of the company’s stock, valued at approximately $1,429,959.96. The trade was a 41.40% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 40,572,082 shares of company stock valued at $481,029,608. 1.28% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. Vanguard Group Inc. raised its stake in NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after acquiring an additional 1,346,796 shares in the last quarter. Renaissance Technologies LLC acquired a new position in NuScale Power during the first quarter worth about $59,141,000. Finally, Morgan Stanley raised its stake in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after acquiring an additional 2,361,532 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

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.