NuScale Power (NYSE:SMR) Shares Up 1.4% - Still a Buy?

Key Points

• NuScale Power shares rose by 1.4%, closing at $45.76 after trading significantly below the average volume.
• Analysts have mixed ratings on NuScale Power, with targets ranging from $24.00 to $46.00, and an average target price of $33.00.
• The company reported a negative net margin of 273.36% but topped EPS estimates, reflecting ongoing financial challenges amidst a revenue of $13.38 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shot up 1.4% during trading on Wednesday . The stock traded as high as $47.36 and last traded at $45.76. 5,285,308 shares were traded during mid-day trading, a decline of 54% from the average session volume of 11,491,568 shares. The stock had previously closed at $45.13.

Wall Street Analyst Weigh In

Several research firms have recently commented on SMR. Canaccord Genuity Group set a $35.00 price target on shares of NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. UBS Group lifted their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Citigroup assumed coverage on shares of NuScale Power in a report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price target for the company. Northland Securities started coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 target price for the company. Finally, The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $33.00.

NuScale Power Trading Up 2.6%

The company has a market capitalization of $13.17 billion, a P/E ratio of -33.84 and a beta of 2.06. The business's 50-day simple moving average is $40.22 and its 200 day simple moving average is $26.60.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results 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 negative net margin of 273.36% and a positive return on equity of 0.09%. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. As a group, sell-side analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. grew its position in NuScale Power by 21.3% during the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after purchasing an additional 203 shares in the last quarter. D.A. Davidson & CO. grew its position in NuScale Power by 1.0% during the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock valued at $824,000 after purchasing an additional 212 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its position in NuScale Power by 84.5% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares in the last quarter. Union Bancaire Privee UBP SA grew its position in NuScale Power by 9.1% in the second quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock worth $182,000 after acquiring an additional 386 shares in the last quarter. Finally, Albion Financial Group UT grew its position in NuScale Power by 26.2% in the second quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after acquiring an additional 425 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other 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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