NuScale Power (NYSE:SMR) Trading Up 5.3% - Time to Buy?

Key Points

• NuScale Power's stock price increased by 5.3% during trading, reaching $35.26, though the trading volume was significantly lower than average.
• Analyst ratings show a mix of sentiment, with Canaccord Genuity upgrading the price target to $44.00 while Bank of America set a neutral rating with a target of $36.00; the consensus average price target is $34.60.
• The company reported negative earnings per share of ($0.13), missing estimates, and had a revenue of $8.05 million, below the expected $10.49 million during its last quarterly earnings report.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 5.3% during trading on Friday . The company traded as high as $35.19 and last traded at $35.26. Approximately 4,547,324 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 11,543,109 shares. The stock had previously closed at $33.49.

Analyst Ratings Changes

Several research analysts have recently issued reports on SMR shares. Canaccord Genuity Group lifted their price target on NuScale Power from $36.00 to $44.00 and gave the stock a "buy" rating in a research note on Monday, August 11th. Bank of America began coverage on NuScale Power in a research report on Thursday. They set a "neutral" rating and a $36.00 price objective for the company. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. UBS Group lifted their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research report on Monday, August 11th. Finally, Northland Securities began coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective for the company. Three equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $34.60.

NuScale Power Trading Up 4.6%

The firm has a market capitalization of $9.98 billion, a price-to-earnings ratio of -29.45 and a beta of 2.06. The firm has a 50 day moving average price of $40.96 and a two-hundred day moving average price of $27.70.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate 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 negative net margin of 221.07% and a positive return on equity of 2.61%. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer directly 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.27% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the company. Kaizen Financial Strategies bought a new stake in shares of NuScale Power in the 1st quarter valued at approximately $204,000. Cambridge Investment Research Advisors Inc. boosted its position in NuScale Power by 31.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock worth $2,734,000 after acquiring an additional 46,744 shares during the period. California State Teachers Retirement System boosted its position in NuScale Power by 17.9% during the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company's stock worth $1,429,000 after acquiring an additional 12,070 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of NuScale Power by 34.1% in the fourth quarter. Ameriprise Financial Inc. now owns 52,612 shares of the company's stock valued at $943,000 after buying an additional 13,373 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after buying an additional 833 shares during the period. 78.37% of the stock is currently owned by institutional investors.

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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