NuScale Power (NYSE:SMR) Trading 4% Higher - Still a Buy?

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price shot up 4% during mid-day trading on Friday . The stock traded as high as $49.50 and last traded at $48.70. 5,075,809 shares were traded during mid-day trading, a decline of 55% from the average session volume of 11,265,535 shares. The stock had previously closed at $46.83.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. CLSA set a $41.00 price target on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, Citigroup initiated coverage on NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, NuScale Power has an average rating of "Hold" and an average target price of $32.00.

NuScale Power Stock Performance

The firm has a market cap of $14.07 billion, a P/E ratio of -36.04 and a beta of 2.04. The stock's 50 day simple moving average is $34.16 and its 200 day simple moving average is $24.05.

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

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction that occurred 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 owned 86,965 shares in the company, valued at $1,459,272.70. This represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 95,278 shares of company stock valued at $1,786,990. 1.27% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. Consolidated Portfolio Review Corp bought a new position in shares of NuScale Power during the second quarter valued at about $516,000. Truist Financial Corp increased its stake in NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company's stock worth $1,885,000 after purchasing an additional 9,016 shares during the period. Union Bancaire Privee UBP SA increased its stake in NuScale Power by 9.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock worth $182,000 after purchasing an additional 386 shares during the period. Albion Financial Group UT boosted its stake in shares of NuScale Power by 26.2% during the second quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock valued at $81,000 after purchasing an additional 425 shares during the period. Finally, Cox Capital Mgt LLC bought a new position in shares of NuScale Power in the second quarter worth approximately $287,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

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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