NuScale Power (NYSE:SMR) Stock Price Up 1.1% - Should You Buy?

Key Points

• NuScale Power's stock rose by 1.1% on Tuesday, with approximately 23.2 million shares traded, marking an 80% increase from its average daily volume.
• Recent analyst reports set price targets for NuScale Power's stock ranging from $35.00 to $46.00, with a consensus rating of "Hold" and an average target price of $36.67.
• Insider transactions revealed a significant sell-off, with Director Corp Fluor selling over 2.37 million shares, leading to a 19.04% decrease in their position.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) rose 1.1% during trading on Tuesday . The stock traded as high as $47.42 and last traded at $45.53. Approximately 23,249,857 shares changed hands during mid-day trading, an increase of 80% from the average daily volume of 12,908,788 shares. The stock had previously closed at $45.02.

Analysts Set New Price Targets

SMR has been the topic of a number of recent research reports. BNP Paribas Exane initiated coverage on shares of NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. BTIG Research downgraded shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Citigroup initiated coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Royal Bank Of Canada initiated coverage on shares of NuScale Power in a research note on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target on the stock. Finally, Barclays initiated coverage on shares of NuScale Power in a research note on Monday, September 29th. They set an "equal weight" rating and a $45.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $36.67.

NuScale Power Price Performance

The stock's fifty day moving average price is $37.99 and its 200 day moving average price is $32.63. The stock has a market capitalization of $12.97 billion, a P/E ratio of -38.26 and a beta of 2.02.

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

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 15,048,847 shares of company stock worth $606,761,579. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Hedge funds have recently modified their holdings of the company. Truist Financial Corp lifted its position in shares of NuScale Power by 23.3% during the second quarter. Truist Financial Corp now owns 47,645 shares of the company's stock valued at $1,885,000 after buying an additional 9,016 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its position in shares of NuScale Power by 31.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after purchasing an additional 46,744 shares during the last quarter. Fox Hill Wealth Management raised its position in shares of NuScale Power by 29.1% in the 2nd quarter. Fox Hill Wealth Management now owns 121,796 shares of the company's stock valued at $4,818,000 after purchasing an additional 27,462 shares during the last quarter. MFG Wealth Management Inc. purchased a new position in shares of NuScale Power in the 2nd quarter valued at approximately $1,829,000. Finally, Castle Rock Wealth Management LLC purchased a new position in shares of NuScale Power in the 2nd quarter valued at approximately $352,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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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