NuScale Power (NYSE:SMR) Stock Price Up 1.8% - Should You Buy?

Key Points

• NuScale Power's stock price increased by 1.8% on Wednesday to close at $36.66, with a trading volume slightly above its average.
• Analyst ratings vary, with an average price target of $36.67, where three analysts suggest a Buy rating, ten recommend Hold, and one advises Sell.
• A recent insider transaction saw Director Corp Fluor sell over 2.37 million shares at a value exceeding $104 million, marking a significant decrease in ownership.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) traded up 1.8% on Wednesday . The stock traded as high as $37.05 and last traded at $36.66. 12,571,107 shares were traded during trading, an increase of 1% from the average session volume of 12,440,806 shares. The stock had previously closed at $36.00.

Analyst Upgrades and Downgrades

SMR has been the topic of several recent research reports. Barclays assumed coverage on NuScale Power in a research report on Monday. They issued an "equal weight" rating and a $45.00 price objective on the stock. BNP Paribas Exane began coverage on shares of NuScale Power in a report on Friday, July 25th. They set a "neutral" rating and a $41.00 price target on the stock. Royal Bank Of Canada initiated coverage on shares of NuScale Power in a research report on Monday, September 15th. They set a "sector perform" rating and a $35.00 price target on the stock. Canaccord Genuity Group upped their price objective on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Finally, Northland Capmk raised shares of NuScale Power to a "hold" rating in a research note on Monday, July 7th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $36.67.

NuScale Power Trading Up 1.8%

The firm's fifty day moving average is $39.57 and its 200 day moving average is $31.12. The company has a market cap of $10.44 billion, a PE ratio of -30.81 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last released its 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 company had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. As a group, sell-side analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In related news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the sale, the director owned 10,085,344 shares of the company's stock, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the company's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares of the company's stock, valued at approximately $1,647,211.97. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,485,950 shares of company stock worth $388,621,483 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new stake in shares of NuScale Power in the 1st quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. raised its position in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares during the period. Rothschild Investment LLC lifted its stake in shares of NuScale Power by 45.2% in the 2nd quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after purchasing an additional 350 shares during the last quarter. NBC Securities Inc. grew its holdings in shares of NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares during the period. Finally, Harbour Investments Inc. increased its position in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after purchasing an additional 203 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 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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