NuScale Power (NYSE:SMR) Stock Price Up 2.3% - Still a Buy?

Key Points

• NuScale Power shares increased by 2.3% to $34.72 during trading, though the volume was significantly lower than average at 4.56 million shares.
• Analyst ratings are mostly neutral, with a consensus price target around $36.20, although some firms have set targets as high as $46.00.
• Despite a revenue miss of $8.05 million against an estimate of $10.49 million, NuScale Power shows positive equity return, albeit with a negative net margin of 221.07%.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 2.3% on Tuesday . The stock traded as high as $35.23 and last traded at $34.72. Approximately 4,560,620 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 11,715,781 shares. The stock had previously closed at $33.95.

Analyst Ratings Changes

Several brokerages have recently commented on SMR. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Bank of America initiated coverage on shares of NuScale Power in a research report on Thursday, August 21st. They issued a "neutral" rating and a $36.00 target price for the company. CLSA set a $41.00 price target on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Citigroup initiated coverage on shares of NuScale Power in a report on Monday, June 23rd. They set a "neutral" rating and a $46.00 price target on the stock. Finally, BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $36.20.

NuScale Power Trading Up 2.6%

The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -29.44 and a beta of 2.03. The stock's 50-day moving average price is $40.11 and its 200-day moving average price is $28.87.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $8.05 million during the quarter, compared to analyst estimates 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, analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the transaction, the chief operating officer owned 90,864 shares in the company, valued at $4,033,452.96. The trade was a 16.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the transaction, the chief financial officer owned 46,283 shares in the company, valued at $1,647,211.97. The trade was a 39.83% decrease in their position. The disclosure for this sale can be found here. 1.27% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently made changes to their positions in SMR. Quantbot Technologies LP bought a new stake in shares of NuScale Power in the 1st quarter worth $27,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after acquiring an additional 359 shares in the last quarter. CoreCap Advisors LLC bought a new stake in shares of NuScale Power in the 4th quarter worth $33,000. Rothschild Investment LLC grew 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 worth $45,000 after acquiring an additional 350 shares in the last quarter. Finally, NBC Securities Inc. grew its stake in shares of NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after acquiring an additional 3,309 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

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.