NuScale Power (NYSE:SMR) Shares Gap Up - Time to Buy?

Key Points

• NuScale Power's stock price rose from $53.43 to $56.33 before closing at $55.58, indicating significant trading activity with over 12 million shares exchanged.
• The company recently reported a loss of ($0.13) earnings per share for the quarter, missing analysts' expectations and highlighting a negative net margin of 221.07%.
• Analysts have a consensus rating of "Hold" on the stock, with price targets ranging from $35 to $46, reflecting cautious optimism among market experts.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $53.43, but opened at $56.33. NuScale Power shares last traded at $55.58, with a volume of 12,168,299 shares changing hands.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (e+)" rating on shares of NuScale Power in a report on Wednesday, October 8th. Northland Capmk raised NuScale Power to a "hold" rating in a report on Monday, July 7th. Royal Bank Of Canada began coverage on NuScale Power in a research report on Monday, September 15th. They issued a "sector perform" rating and a $35.00 price target on the stock. BNP Paribas Exane began coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target on the stock. Finally, Citigroup began coverage on NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $36.67.

NuScale Power Price Performance

The stock has a 50-day simple moving average of $38.14 and a 200-day simple moving average of $32.86. The stock has a market cap of $14.46 billion, a P/E ratio of -42.74 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The business had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 87,900 shares of the business's stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $39.58, for a total transaction of $3,479,082.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 15,048,847 shares of company stock worth $606,761,579 in the last quarter. Insiders own 1.27% of the company's stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. grew its holdings in shares of NuScale Power by 21.3% during the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of NuScale Power by 1.0% in the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock worth $824,000 after acquiring an additional 212 shares during the period. TD Waterhouse Canada Inc. lifted its stake in shares of NuScale Power by 14.8% in the second quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company's stock worth $95,000 after acquiring an additional 341 shares during the period. Rothschild Investment LLC lifted its stake in shares of NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock worth $45,000 after acquiring an additional 350 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares during the period. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

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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