NuScale Power (NYSE:SMR) Trading Up 3.1% – Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMR) traded up 3.1% during trading on Monday . The stock traded as high as $8.08 and last traded at $7.96. Approximately 36,278,098 shares changed hands during mid-day trading, an increase of 20% from the average session volume of 30,302,018 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SMR shares. The Goldman Sachs Group set a $9.00 price target on shares of NuScale Power in a report on Friday, May 8th. Barclays set a $11.00 target price on shares of NuScale Power in a research report on Wednesday. Citigroup reissued a “sell” rating on shares of NuScale Power in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a research report on Wednesday, June 24th. Finally, Bank of America began coverage on shares of NuScale Power in a research note on Friday, May 22nd. They set a “neutral” rating and a $12.00 price target for the company. One research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.15.

NuScale Power Trading Down 1.7%

The firm has a market cap of $3.13 billion, a P/E ratio of -2.92 and a beta of 2.24. The company’s fifty day moving average price is $10.40 and its two-hundred day moving average price is $12.80.

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). The firm had revenue of $0.56 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%. NuScale Power’s quarterly revenue was down 95.8% on a year-over-year basis. On average, analysts predict that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in NuScale Power by 40.5% in the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after buying an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of NuScale Power in the first quarter valued at about $59,141,000. Morgan Stanley lifted its position in NuScale Power by 81.0% during the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after buying an additional 2,361,532 shares in the last quarter. Finally, Samsung C&T Corp lifted its position in NuScale Power by 98.9% during the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after buying an additional 2,578,702 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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.