NuScale Power (NYSE:SMR) Trading 9.4% Higher – Still a Buy?

NuScale Power Corporation (NYSE:SMR)’s share price was up 9.4% on Tuesday . The company traded as high as $8.74 and last traded at $8.71. 35,903,729 shares were traded during mid-day trading, an increase of 18% from the average session volume of 30,306,785 shares. The stock had previously closed at $7.96.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SMR. B. Riley Financial cut their price objective on NuScale Power from $24.00 to $19.00 and set a “buy” rating on the stock in a report on Friday, April 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a report on Wednesday, June 24th. Barclays set a $11.00 price target on shares of NuScale Power in a research report on Wednesday. Northland Securities set a $19.00 price objective on NuScale Power in a report on Monday, May 11th. Finally, HSBC began coverage on NuScale Power in a research note on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price target for the company. 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 assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.15.

NuScale Power Stock Down 0.4%

The firm’s 50 day simple moving average is $10.34 and its two-hundred day simple moving average is $12.76. The stock has a market capitalization of $3.17 billion, a P/E ratio of -2.97 and a beta of 2.24.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The firm had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. The business’s revenue for the quarter was down 95.8% compared to the same quarter last year. As a group, equities research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently bought and sold shares of SMR. Vermillion & White Wealth Management Group LLC boosted its holdings in NuScale Power by 1,550.9% during the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company’s stock worth $25,000 after acquiring an additional 1,675 shares during the last quarter. Assetmark Inc. raised its holdings in shares of NuScale Power by 1,940.3% in the first quarter. Assetmark Inc. now owns 2,428 shares of the company’s stock valued at $26,000 after purchasing an additional 2,309 shares during the last quarter. Ameriflex Group Inc. bought a new position in shares of NuScale Power during the fourth quarter valued at about $30,000. Strategic Advocates LLC lifted its position in shares of NuScale Power by 233.0% during the fourth quarter. Strategic Advocates LLC now owns 2,321 shares of the company’s stock valued at $33,000 after purchasing an additional 1,624 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in NuScale Power by 32.4% during the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company’s stock worth $34,000 after purchasing an additional 592 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.