NuScale Power (NYSE:SMR) Shares Up 1.9% - Should You Buy?

Key Points

• NuScale Power shares rose 1.9% on Thursday, trading as high as $8.92 and closing near $8.85 on volume slightly below average.
• Analyst sentiment remains mixed, with ratings ranging from Strong Buy to Sell and an average Wall Street rating of Hold; the consensus price target is $15.15.
• Recent fundamentals were weak: the company missed earnings expectations, posted negative margins, and reported revenue of just $0.56 million versus $7.0 million expected.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price shot up 1.9% during trading on Thursday . The stock traded as high as $8.92 and last traded at $8.8450. 29,622,327 shares traded hands during trading, a decline of 3% from the average session volume of 30,410,730 shares. The stock had previously closed at $8.68.

Analysts Set New Price Targets

SMR has been the subject of a number of analyst reports. HSBC started coverage on NuScale Power in a report on Thursday, April 23rd. They issued a "hold" rating and a $13.00 price target for the company. Truist Financial started coverage on shares of NuScale Power in a report on Monday, July 13th. They set a "hold" rating and a $10.00 target price for the company. B. Riley Financial decreased their target price on shares of NuScale Power from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, April 24th. The Goldman Sachs Group set a $9.00 target price on shares of NuScale Power in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $15.15.

NuScale Power Stock Up 1.9%

The business has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $12.76. The company has a market cap of $3.23 billion, a PE ratio of -3.03 and a beta of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. The business had revenue of $0.56 million during the quarter, compared to analysts' expectations of $7.00 million. The business's revenue was down 95.8% compared to the same quarter last year. On average, research analysts forecast that NuScale Power Corporation will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Harbour Investments Inc. boosted its stake in NuScale Power by 32.4% during the fourth quarter. Harbour Investments Inc. now owns 2,419 shares of the company's stock worth $34,000 after buying an additional 592 shares during the last quarter. Balboa Wealth Partners increased its stake in shares of NuScale Power by 5.9% in the 4th quarter. Balboa Wealth Partners now owns 13,465 shares of the company's stock worth $191,000 after acquiring an additional 756 shares during the last quarter. Allworth Financial LP raised its holdings in shares of NuScale Power by 7.8% during the 3rd quarter. Allworth Financial LP now owns 10,492 shares of the company's stock worth $378,000 after acquiring an additional 758 shares during the period. Arax Advisory Partners raised its holdings in shares of NuScale Power by 26.0% during the 4th quarter. Arax Advisory Partners now owns 3,739 shares of the company's stock worth $53,000 after acquiring an additional 772 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of NuScale Power by 7.7% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 14,270 shares of the company's stock valued at $514,000 after acquiring an additional 1,015 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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