NuScale Power (NYSE:SMR) Stock Price Up 16.4% - Still a Buy?

Key Points

• NuScale Power's stock price surged by 16.4%, closing at $53.28 after trading as high as $56.16 on significant volume.
• Analyst ratings for NuScale Power are mixed, with three analysts issuing a Buy, ten a Hold, and two a Sell, resulting in an average target price of $36.67.
• Recent insider selling has been notable, with a director unloading over 2.37 million shares at an average price of $43.99, reflecting a significant shift in insider sentiment.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price shot up 16.4% during trading on Wednesday . The company traded as high as $56.16 and last traded at $53.28. 60,246,729 shares changed hands during mid-day trading, an increase of 358% from the average session volume of 13,150,170 shares. The stock had previously closed at $45.79.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SMR. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Northland Capmk raised NuScale Power to a "hold" rating in a report on Monday, July 7th. Barclays began coverage on NuScale Power in a research report on Monday, September 29th. They set an "equal weight" rating and a $45.00 price target for the company. UBS Group lifted 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. Finally, Weiss Ratings reissued a "sell (e+)" rating on shares of NuScale Power in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, NuScale Power presently has an average rating of "Hold" and an average target price of $36.67.

NuScale Power Stock Up 16.4%

The firm has a market capitalization of $15.18 billion, a price-to-earnings ratio of -44.77 and a beta of 2.02. The stock's 50 day moving average price is $37.99 and its two-hundred day moving average price is $32.72.

NuScale Power (NYSE:SMR - Get Free Report) last announced 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). The business had revenue of $8.05 million for the quarter, compared to the consensus estimate of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction that occurred on 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 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 document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have sold 15,048,847 shares of company stock valued at $606,761,579. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of NuScale Power in the fourth quarter valued at approximately $207,000. GAMMA Investing LLC raised its holdings in NuScale Power by 5,590.4% in the 1st quarter. GAMMA Investing LLC now owns 15,364 shares of the company's stock worth $218,000 after purchasing an additional 15,094 shares in the last quarter. Rhumbline Advisers increased its stake in shares of NuScale Power by 12.8% in the 1st quarter. Rhumbline Advisers now owns 125,708 shares of the company's stock worth $1,780,000 after acquiring an additional 14,304 shares in the last quarter. Farther Finance Advisors LLC increased its stake in NuScale Power by 6.9% during the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after purchasing an additional 833 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in NuScale Power by 652.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 84,778 shares of the company's stock valued at $1,200,000 after purchasing an additional 73,504 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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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