NuScale Power (NYSE:SMR) Shares Up 6.3% - Still a Buy?

Key Points

• NuScale Power's stock price rose by 6.3% during trading, reaching a high of $41.61, driven by significant trading volume that increased by 73% compared to the average.
• The company received mixed ratings from analysts, with three giving a Buy rating, ten a Hold rating, and two a Sell rating, while the consensus price target is $36.67.
• In its latest earnings report, NuScale Power reported a loss of ($0.13) earnings per share, which was below analysts' expectations, and its revenue was also below projections at $8.05 million.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price shot up 6.3% during trading on Thursday . The company traded as high as $41.61 and last traded at $40.59. 21,846,841 shares traded hands during mid-day trading, an increase of 73% from the average session volume of 12,632,041 shares. The stock had previously closed at $38.20.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. BNP Paribas raised NuScale Power to a "hold" rating in a research report on Friday, July 25th. Barclays started coverage on NuScale Power in a research note on Monday, September 29th. They set an "equal weight" rating and a $45.00 price objective for the company. Citigroup initiated coverage on NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. Northland Securities initiated coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective for the company. Finally, UBS Group increased their price objective on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a research report on Monday, August 11th. Three equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, NuScale Power has a consensus rating of "Hold" and a consensus price target of $36.67.

NuScale Power Stock Performance

The business's 50-day simple moving average is $38.06 and its 200-day simple moving average is $32.06. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of -34.11 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data 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 analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. On average, analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

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

Institutional Trading of NuScale Power

Several hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. raised its holdings 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 buying an additional 359 shares during the period. Rothschild Investment LLC boosted 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 buying an additional 350 shares during the last quarter. Harbour Investments Inc. boosted 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 worth $46,000 after purchasing an additional 203 shares in the last quarter. Delos Wealth Advisors LLC purchased a new position in shares of NuScale Power in the second quarter valued at approximately $51,000. Finally, AdvisorNet Financial Inc raised its holdings in shares of NuScale Power by 4,483.3% during the 3rd quarter. AdvisorNet Financial Inc now owns 1,375 shares of the company's stock worth $50,000 after acquiring an additional 1,345 shares during the period. Hedge funds and other 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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