NuScale Power (NYSE:SMR) Trading 3.5% Higher – Time to Buy?

NuScale Power Corporation (NYSE:SMR) was up 3.5% on Friday . The stock traded as high as $9.65 and last traded at $9.39. Approximately 36,926,893 shares changed hands during mid-day trading, an increase of 21% from the average session volume of 30,492,223 shares. The stock had previously closed at $9.07.

Analysts Set New Price Targets

A number of analysts have commented on SMR shares. Canaccord Genuity Group decreased their target price on NuScale Power from $25.00 to $15.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. Barclays cut their price target on NuScale Power from $15.00 to $11.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 22nd. HSBC started coverage on shares of NuScale Power in a research report on Thursday, April 23rd. They issued a “hold” rating and a $13.00 price objective on the stock. Citigroup lowered their price objective 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. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research report on Friday, May 8th. One 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 issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $13.50.

NuScale Power Stock Performance

The company has a market capitalization of $4.04 billion, a PE ratio of -3.22 and a beta of 2.26. The stock’s fifty day simple moving average is $9.36 and its 200-day simple moving average is $11.24.

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

Insider Buying and Selling

In other NuScale Power news, Director Shinji Fujino sold 20,000 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total value of $177,200.00. Following the completion of the sale, the director directly owned 17,242 shares of the company’s stock, valued at approximately $152,764.12. The trade was a 53.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Carl M. Fisher sold 18,771 shares of the business’s stock in a transaction on Wednesday, August 5th. The shares were sold at an average price of $9.36, for a total value of $175,696.56. Following the completion of the transaction, the chief operating officer owned 114,718 shares of the company’s stock, valued at $1,073,760.48. This trade represents a 14.06% decrease in their ownership of the stock. 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. 1.28% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp increased its stake in shares of NuScale Power by 117.8% during the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after acquiring an additional 6,227,747 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of NuScale Power in the first quarter worth approximately $59,141,000. Vanguard Group Inc. grew its holdings in NuScale Power by 40.5% in the fourth 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 period. Voloridge Investment Management LLC purchased a new stake in NuScale Power in the fourth quarter valued at approximately $48,993,000. Finally, Samsung C&T Corp increased its position in NuScale Power by 98.9% during the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after purchasing an additional 2,578,702 shares during the last quarter. 78.37% of the stock is currently 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.