NuScale Power (NYSE:SMR) Stock Price Up 1.9% – Should You Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price shot up 1.9% during trading on Thursday . The company traded as high as $10.08 and last traded at $9.74. 28,636,546 shares changed hands during mid-day trading, a decline of 7% from the average session volume of 30,809,984 shares. The stock had previously closed at $9.56.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SMR shares. Northland Securities set a $16.00 price objective on shares of NuScale Power in a report on Thursday, August 6th. Barclays lowered their target price on shares of NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Citigroup cut their price target 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. B. Riley Financial lowered their price objective on shares of NuScale Power from $19.00 to $15.00 and set a “buy” rating for the company in a research note on Friday, August 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.50.

NuScale Power Stock Performance

The business has a fifty day simple moving average of $9.12 and a 200 day simple moving average of $10.80. The company has a market cap of $4.19 billion, a P/E ratio of -3.34 and a beta of 2.30.

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

Insider Buying and Selling

In other news, COO Carl M. Fisher sold 18,771 shares of the business’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $9.36, for a total transaction of $175,696.56. Following the sale, the chief operating officer directly owned 114,718 shares of the company’s stock, valued at $1,073,760.48. The trade was a 14.06% 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, CFO Robert Hamady sold 29,880 shares of the business’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $9.39, for a total transaction of $280,573.20. Following the sale, the chief financial officer owned 124,235 shares in the company, valued at $1,166,566.65. This represents a 19.39% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Corporate insiders own 1.28% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently modified their holdings of SMR. Corient Private Wealth LP increased its position in NuScale Power by 1,495.8% in the 2nd quarter. Corient Private Wealth LP now owns 338,023 shares of the company’s stock worth $3,390,000 after buying an additional 316,841 shares during the period. Kingsbury Capital Investment Advisors LLC acquired a new position in shares of NuScale Power during the second quarter worth approximately $207,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of NuScale Power in the second quarter valued at approximately $431,000. California State Teachers Retirement System boosted its position in shares of NuScale Power by 1,622.5% in the second quarter. California State Teachers Retirement System now owns 3,455,305 shares of the company’s stock valued at $344,497,000 after acquiring an additional 3,254,704 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of NuScale Power in the second quarter worth $27,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.