NuScale Power (NYSE:SMR) Trading Up 1.9% - Still a Buy?

Key Points

• NuScale Power shares rose 1.9% in midday trading, with volume running about 40% above average. The stock traded between $12.67 and $13.40 and last changed hands near $12.91.
• Wall Street sentiment remains cautious: several firms cut price targets recently, and the stock now carries an overall “Hold” rating with an average target price of $15.92. Analyst targets range widely, reflecting uncertainty around the company’s outlook.
• Recent fundamentals were weak, as NuScale reported a quarterly EPS miss and revenue far below expectations, with sales down 95.8% year over year. Insiders also sold a large amount of stock over the past three months, even as institutional investors hold most of the shares.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 1.9% during mid-day trading on Monday . The company traded as high as $13.40 and last traded at $12.9090. Approximately 41,048,861 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 29,400,637 shares. The stock had previously closed at $12.67.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SMR shares. Canaccord Genuity Group dropped their target price on NuScale Power from $60.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, February 27th. Barclays dropped their target price on NuScale Power from $45.00 to $15.00 and set an "equal weight" rating on the stock in a research report on Monday, February 23rd. Citigroup dropped their target price on NuScale Power from $9.00 to $7.00 and set a "sell" rating on the stock in a research report on Monday, May 11th. Bank of America started coverage on NuScale Power in a research report on Friday, May 22nd. They issued a "neutral" rating and a $12.00 target price on the stock. Finally, Northland Securities set a $19.00 price target on NuScale Power in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $15.92.

NuScale Power Stock Up 1.9%

The stock has a 50-day simple moving average of $11.41 and a 200-day simple moving average of $15.14. The firm has a market capitalization of $4.72 billion, a PE ratio of -4.42 and a beta of 2.20.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). NuScale Power had a negative return on equity of 48.88% and a negative net margin of 2,066.55%.The firm had revenue of $0.57 million during the quarter, compared to analysts' expectations of $7.00 million. NuScale Power's quarterly revenue was down 95.8% compared to the same quarter last year. Equities analysts forecast that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert Ramsey Hamady sold 18,570 shares of the firm's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $12.22, for a total value of $226,925.40. Following the completion of the transaction, the chief financial officer directly owned 97,192 shares of the company's stock, valued at $1,187,686.24. This trade represents a 16.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Corp Fluor sold 13,500,000 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $12.07, for a total value of $162,945,000.00. Following the completion of the transaction, the director directly owned 26,436,472 shares of the company's stock, valued at $319,088,217.04. The trade was a 33.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 40,059,906 shares of company stock valued at $474,339,533 over the last three months. Insiders own 1.28% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of NuScale Power by 40.5% in the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock worth $220,273,000 after acquiring an additional 4,482,254 shares during the period. Van ECK Associates Corp boosted its stake in NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock valued at $163,176,000 after buying an additional 6,227,747 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in NuScale Power by 22.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company's stock valued at $263,195,000 after buying an additional 1,346,796 shares during the period. Renaissance Technologies LLC bought a new stake in NuScale Power during the first quarter valued at $59,141,000. Finally, Morgan Stanley boosted its stake in NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company's stock valued at $74,788,000 after buying an additional 2,361,532 shares during the period. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

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