NuScale Power (NYSE:SMR) Trading 14.5% Higher – Time to Buy?
by Amy Steele · The Cerbat GemNuScale Power Corporation (NYSE:SMR – Get Free Report)’s stock price shot up 14.5% during trading on Friday . The company traded as high as $16.47 and last traded at $16.2270. 30,627,937 shares changed hands during mid-day trading, an increase of 41% from the average session volume of 21,748,956 shares. The stock had previously closed at $14.17.
Analyst Ratings Changes
SMR has been the subject of a number of research reports. Bank of America reiterated an “underperform” rating and set a $34.00 target price (down previously from $38.00) on shares of NuScale Power in a report on Tuesday, September 30th. Citigroup reissued a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. UBS Group set a $20.00 target price on NuScale Power in a report on Tuesday, November 25th. BNP Paribas downgraded shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Finally, Barclays assumed coverage on shares of NuScale Power in a research report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective on the stock. Four analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $35.18.
Read Our Latest Report on NuScale Power
NuScale Power Trading Up 14.5%
The company has a fifty day simple moving average of $23.44 and a 200-day simple moving average of $34.24. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of -5.67 and a beta of 2.12.
NuScale Power (NYSE:SMR – Get Free Report) last announced its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($1.74). NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. During the same period in the prior year, the company posted ($0.18) earnings per share. The firm’s revenue was up 1635.2% on a year-over-year basis. As a group, analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.
Insider Activity at NuScale Power
In related news, Director Corp Fluor sold 87,900 shares of the business’s stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total value of $3,479,082.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 40,000 shares of the company’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total transaction of $886,800.00. Following the completion of the sale, the chief financial officer directly owned 46,283 shares in the company, valued at approximately $1,026,094.11. The trade was a 46.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,802,794 shares of company stock valued at $73,978,047 over the last three months. 1.20% of the stock is owned by company insiders.
Hedge Funds Weigh In On NuScale Power
Institutional investors have recently modified their holdings of the stock. Private Wealth Partners LLC raised its holdings in NuScale Power by 39.4% during the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock worth $910,000 after buying an additional 6,500 shares during the last quarter. Intech Investment Management LLC increased its position in shares of NuScale Power by 72.3% during the second quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock worth $3,614,000 after acquiring an additional 38,347 shares in the last quarter. Truist Financial Corp raised its holdings in shares of NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock worth $1,885,000 after acquiring an additional 9,016 shares during the last quarter. Black Swift Group LLC bought a new position in NuScale Power in the 2nd quarter valued at about $585,000. Finally, Geode Capital Management LLC boosted its stake in NuScale Power by 25.2% during the 2nd quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock valued at $112,944,000 after purchasing an additional 574,295 shares during the last quarter. 78.37% of the stock is 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.