NuScale Power (NYSE:SMR) Trading Up 7.1% - Still a Buy?

Key Points

• NuScale Power shares rose 7.1% to about $9.02 on heavy trading, but remain below their 50-day and 200-day moving averages of $9.96 and $12.23, respectively.
• Analyst sentiment is largely cautious: the stock has a consensus rating of “Hold” and an average price target of $15.15, with ratings ranging from Strong Buy to Sell.
• The company’s latest quarter was weak, with a $0.14 per-share loss, revenue of just $0.56 million versus $7 million expected, and revenue down 95.8% year over year. Institutional investors own 78.37% of the shares.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price traded up 7.1% on Monday . The company traded as high as $9.13 and last traded at $9.0170. 27,595,855 shares traded hands during mid-day trading, a decline of 10% from the average session volume of 30,499,076 shares. The stock had previously closed at $8.42.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SMR shares. The Goldman Sachs Group set a $9.00 target price on NuScale Power in a research report on Friday, May 8th. HSBC assumed coverage on NuScale Power in a research note on Thursday, April 23rd. They set a "hold" rating and a $13.00 price objective on the stock. Barclays dropped their price objective on NuScale Power from $15.00 to $11.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 22nd. Northland Securities set a $19.00 target price on NuScale Power in a report on Monday, May 11th. Finally, Citigroup reiterated a "sell" rating on shares of NuScale Power in a research report on Wednesday, July 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $15.15.

NuScale Power Price Performance

The stock has a market cap of $3.30 billion, a P/E ratio of -3.09 and a beta of 2.24. The firm's fifty day moving average price is $9.96 and its two-hundred day moving average price is $12.23.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.03). The business had revenue of $0.56 million for the quarter, compared to the consensus estimate of $7.00 million. NuScale Power had a negative net margin of 2,066.55% and a negative return on equity of 48.88%. NuScale Power's revenue for the quarter was down 95.8% compared to the same quarter last year. On average, research analysts expect that NuScale Power Corporation will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Van ECK Associates Corp grew its position in NuScale Power by 117.8% in the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company's stock worth $163,176,000 after acquiring an additional 6,227,747 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of NuScale Power in the 1st quarter worth about $59,141,000. Vanguard Group Inc. increased its position in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company's stock valued at $220,273,000 after purchasing an additional 4,482,254 shares during the last quarter. Voloridge Investment Management LLC bought a new position in shares of NuScale Power during the 4th quarter valued at about $48,993,000. Finally, Samsung C&T Corp raised its holdings in shares of NuScale Power by 98.9% during the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company's stock valued at $186,689,000 after buying an additional 2,578,702 shares in the last quarter. 78.37% of the stock is currently 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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