NuScale Power (NYSE:SMR) Hits New 52-Week High - Should You Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares reached a new 52-week high on Monday . The company traded as high as $45.31 and last traded at $44.07, with a volume of 5799482 shares trading hands. The stock had previously closed at $38.82.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMR. UBS Group lifted their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, CLSA set a $41.00 target price on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.00.

NuScale Power Stock Up 9.6%

The company has a 50-day simple moving average of $23.10 and a 200-day simple moving average of $21.28. The firm has a market cap of $12.10 billion, a PE ratio of -44.67 and a beta of 2.00. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. Analysts expect that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. The trade was a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 34,675 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now directly owns 49,019 shares in the company, valued at approximately $833,323. The trade was a 41.43% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,278 shares of company stock worth $2,286,280. Corporate insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the stock. Kaizen Financial Strategies purchased a new stake in NuScale Power in the 1st quarter valued at $204,000. Raymond James Financial Inc. acquired a new position in NuScale Power during the fourth quarter worth $2,755,000. Allspring Global Investments Holdings LLC raised its position in NuScale Power by 467.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company's stock worth $1,537,000 after acquiring an additional 70,638 shares during the last quarter. HighTower Advisors LLC increased its position in NuScale Power by 51.0% during the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after buying an additional 6,175 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after purchasing an additional 3,576 shares during the last quarter. Hedge funds and other institutional investors own 78.37% of the company's stock.

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.

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