NuScale Power (NYSE:SMR) Hits New 1-Year High - Still a Buy?

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $46.31 and last traded at $46.20, with a volume of 15701748 shares traded. The stock had previously closed at $42.98.

Analysts Set New Price Targets

SMR has been the subject of a number of research reports. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Citigroup initiated coverage on NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. UBS Group lifted their price objective on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Finally, CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, NuScale Power has an average rating of "Hold" and a consensus target price of $32.00.

NuScale Power Price Performance

The business has a 50 day moving average of $34.16 and a 200 day moving average of $24.05. The firm has a market capitalization of $13.34 billion, a price-to-earnings ratio of -34.25 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, equities analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Transactions at NuScale Power

In other news, insider Clayton Scott sold 10,019 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider owned 86,965 shares in the company, valued at approximately $1,459,272.70. This trade represents a 10.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the sale, the chief executive officer directly owned 49,019 shares in the company, valued at $833,323. This represents a 41.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,278 shares of company stock worth $1,786,990. Company insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Samsung C&T Corp bought a new position in shares of NuScale Power in the 4th quarter worth about $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after buying an additional 1,705,411 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of NuScale Power in the 4th quarter worth approximately $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new position in shares of NuScale Power during the 1st quarter valued at $14,271,000. 78.37% of the stock is currently owned by institutional investors.

About NuScale Power

NuScale Power Corporation engages in the development and sale of modular light water reactor nuclear power plants to supply energy for electrical generation, district heating, desalination, hydrogen production, and other process heat applications. It offers NuScale Power Module (NPM), a water reactor that can generate 77 megawatts of electricity (MWe); and VOYGR power plant designs for three facility sizes that are capable of housing from one to four and six or twelve NPMs.