NuScale Power (NYSE:SMR) Shares Up 2.4% – Still a Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price shot up 2.4% on Monday . The stock traded as high as $10.98 and last traded at $10.7560. 23,066,340 shares were traded during mid-day trading, a decline of 23% from the average session volume of 30,086,996 shares. The stock had previously closed at $10.50.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SMR. Royal Bank Of Canada reduced their target price on shares of NuScale Power from $21.00 to $14.00 and set a “sector perform” rating on the stock in a report on Monday, March 2nd. Northland Securities set a $19.00 target price on shares of NuScale Power in a report on Monday, May 11th. Bank of America initiated coverage on shares of NuScale Power in a report on Friday, May 22nd. They issued a “neutral” rating and a $12.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of NuScale Power in a report on Friday, March 27th. Finally, The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $15.92.

NuScale Power Stock Performance

The stock has a market capitalization of $3.40 billion, a PE ratio of -3.18 and a beta of 2.20. The business’s 50-day moving average is $11.47 and its two-hundred day moving average is $14.58.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The company had revenue of $0.57 million for the quarter, compared to analysts’ expectations of $7.00 million. NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The business’s quarterly revenue was down 95.8% on a year-over-year basis. Equities analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 13,500,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $11.81, for a total transaction of $159,435,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 39,936,472 shares of company stock worth $472,831,169. 1.28% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after buying an additional 4,482,254 shares during the last quarter. Van ECK Associates Corp raised 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 worth $163,176,000 after buying an additional 6,227,747 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NuScale Power by 22.6% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after buying an additional 1,346,796 shares during the last quarter. Renaissance Technologies LLC acquired a new position in shares of NuScale Power during the 1st quarter worth $59,141,000. Finally, Morgan Stanley raised its stake in shares of 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 during the last quarter. Institutional investors and hedge funds 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.