NuScale Power (NYSE:SMR) Trading 1.7% Higher - Time to Buy?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 1.7% during trading on Friday . The company traded as high as $41.05 and last traded at $38.90. Approximately 6,139,722 shares changed hands during trading, a decline of 37% from the average daily volume of 9,775,176 shares. The stock had previously closed at $38.24.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SMR shares. Citigroup initiated coverage on NuScale Power in a report on Monday. They issued a "neutral" rating and a $46.00 price objective for the company. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. UBS Group increased their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday. Finally, CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $29.38.

NuScale Power Stock Up 0.7%

The company's fifty day moving average price is $27.46 and its two-hundred day moving average price is $22.18. The company has a market cap of $10.95 billion, a price-to-earnings ratio of -28.21 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, equities research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clayton Scott sold 10,019 shares of the business's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the sale, the insider now directly owns 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,278 shares of company stock valued at $2,286,280 in the last 90 days. 1.27% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in NuScale Power in the first quarter valued at approximately $27,000. CoreCap Advisors LLC acquired a new stake in shares of NuScale Power in the 4th quarter valued at approximately $33,000. Twin Tree Management LP bought a new position in shares of NuScale Power in the fourth quarter valued at $42,000. NBC Securities Inc. grew its stake in shares of NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after buying an additional 3,309 shares in the last quarter. Finally, Stone House Investment Management LLC acquired a new position in NuScale Power during the first quarter worth $50,000. 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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