NuScale Power (NYSE:SMR) Shares Up 5.4% - Time to Buy?

Key Points

• NuScale Power shares rose 5.4% to about $9.50 in mid-day trading, while trading volume remained below its average. The stock’s 50-day and 200-day moving averages were $9.92 and $12.15, respectively.
• Analysts maintain a broadly cautious outlook, with a consensus “Hold” rating and an average price target of $15.15. Recent targets range from $10 to $19, while ratings include one Strong Buy, four Buys, nine Holds and three Sells.
• NuScale’s latest quarterly results were weak: it reported a $0.14 loss per share versus an expected $0.11 loss, revenue of just $0.56 million versus $7 million expected, and a 95.8% year-over-year revenue decline. The company also posted negative return on equity and net margin.

NuScale Power Corporation (NYSE:SMR - Get Free Report) rose 5.4% during mid-day trading on Tuesday . The company traded as high as $9.71 and last traded at $9.4950. 25,076,379 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 30,461,809 shares. The stock had previously closed at $9.01.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SMR. Truist Financial began coverage on shares of NuScale Power in a research report on Monday, July 13th. They set a "hold" rating and a $10.00 price objective on the stock. Bank of America started coverage on shares of NuScale Power in a report on Friday, May 22nd. They set a "neutral" rating and a $12.00 price target on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of NuScale Power in a report on Wednesday, June 24th. Barclays reduced their price objective on NuScale Power from $15.00 to $11.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. Finally, B. Riley Financial cut their price target on NuScale Power from $24.00 to $19.00 and set a "buy" rating for the company in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of "Hold" and a consensus target price of $15.15.

NuScale Power Price Performance

The stock has a market capitalization of $3.47 billion, a P/E ratio of -3.25 and a beta of 2.26. The stock's fifty day moving average is $9.92 and its 200-day moving average is $12.15.

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

Institutional Trading of NuScale Power

Several large investors have recently modified their holdings of SMR. Triumph Capital Management acquired a new position in NuScale Power during the 3rd quarter worth $37,000. EverSource Wealth Advisors LLC lifted its position in shares of NuScale Power by 187.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,694 shares of the company's stock worth $67,000 after purchasing an additional 1,105 shares during the last quarter. Ancora Advisors LLC boosted its stake in NuScale Power by 177,500.0% during the 3rd quarter. Ancora Advisors LLC now owns 1,776 shares of the company's stock valued at $64,000 after purchasing an additional 1,775 shares during the period. Vermillion & White Wealth Management Group LLC grew its holdings in NuScale Power by 1,550.9% in the 4th quarter. Vermillion & White Wealth Management Group LLC now owns 1,783 shares of the company's stock valued at $25,000 after buying an additional 1,675 shares during the last quarter. Finally, Monimus Capital Management LP bought a new position in NuScale Power in the 2nd quarter worth approximately $72,000. 78.37% of the stock is owned by 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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