NuScale Power (NYSE:SMR) Shares Up 11.6% - Still a Buy?

Key Points

• NuScale Power's shares increased by 11.6% during trading, reaching a last trade price of $40.32, despite a decrease in trading volume.
• Analysts have mixed ratings on NuScale Power, with three giving it a Buy rating and ten a Hold rating, alongside an average price target of $36.09.
• The company reported a quarterly loss of ($0.13) earnings per share, missing the consensus estimate, with revenue of $8.05 million, below the expected $10.49 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shot up 11.6% during trading on Thursday . The company traded as high as $38.83 and last traded at $40.32. 6,892,389 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 11,847,784 shares. The stock had previously closed at $36.13.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMR. UBS Group increased their price target on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Northland Securities began coverage on NuScale Power in a research report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target for the company. 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 for the company. BNP Paribas Exane assumed coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target for the company. Finally, BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.09.

NuScale Power Stock Performance

The stock has a market cap of $11.18 billion, a P/E ratio of -32.97 and a beta of 2.03. The business has a 50 day simple moving average of $40.20 and a 200-day simple moving average of $29.53.

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

Insider Buying and Selling at NuScale Power

In other news, COO Carl M. Fisher sold 18,206 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the transaction, the chief operating officer owned 90,864 shares in the company, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the firm's stock in a transaction dated Wednesday, August 27th. The stock was sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the transaction, the chief financial officer owned 46,283 shares of the company's stock, valued at approximately $1,647,211.97. This represents a 39.83% decrease in their position. The disclosure for this sale can be found here. 1.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in NuScale Power by 6.1% in the 1st quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock worth $126,598,000 after purchasing an additional 512,618 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 buying an additional 1,153,158 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of 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 buying an additional 574,295 shares in the last quarter. State Street Corp raised its holdings in shares of NuScale Power by 37.5% during the 2nd quarter. State Street Corp now owns 2,736,187 shares of the company's stock valued at $108,244,000 after buying an additional 746,667 shares in the last quarter. Finally, Swedbank AB increased its stake in NuScale Power by 6.7% in the 1st quarter. Swedbank AB now owns 2,402,125 shares of the company's stock worth $34,014,000 after purchasing an additional 149,875 shares during the period. 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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