NuScale Power (NYSE:SMR) Stock Price Up 6.6% - Should You Buy?

Key Points

• NuScale Power shares rose 6.6% to about $8.19, although trading volume was 76% below the average session volume.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $12.96; recent targets range from $6 to $15.
• The company reported a weak quarter, including just $0.07 million in revenue—down 99.1% year over year—and a $0.13-per-share loss. Insiders have also sold 88,651 shares worth roughly $791,270 over the past 90 days.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shot up 6.6% during mid-day trading on Tuesday. The stock traded as high as $8.37 and last traded at $8.1870. 7,603,405 shares traded hands during trading, a decline of 76% from the average session volume of 31,356,100 shares. The stock had previously closed at $7.68.

Analysts Set New Price Targets

Several brokerages recently commented on SMR. B. Riley Financial dropped their target price on shares of NuScale Power from $19.00 to $15.00 and set a "buy" rating on the stock in a report on Friday, August 14th. Truist Financial started coverage on shares of NuScale Power in a report on Monday, July 13th. They set a "hold" rating and a $10.00 price target for the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of NuScale Power in a research report on Monday, September 21st. UBS Group lowered NuScale Power from a "neutral" rating to a "sell" rating and dropped their price objective for the stock from $10.00 to $6.00 in a research note on Friday, September 11th. Finally, Royal Bank Of Canada cut their price objective on NuScale Power from $14.00 to $10.00 and set a "sector perform" rating for the company in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, NuScale Power currently has a consensus rating of "Hold" and an average target price of $12.96.

NuScale Power Trading Up 6.2%

The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of -2.80 and a beta of 2.36. The firm has a fifty day moving average price of $9.03 and a 200 day moving average price of $10.13.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.13) EPS for the quarter, hitting analysts' consensus estimates of ($0.13). NuScale Power had a negative return on equity of 35.59% and a negative net margin of 3,888.70%.The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $8.80 million. During the same period in the prior year, the company earned ($0.11) EPS. NuScale Power's revenue for the quarter was down 99.1% on a year-over-year basis. As a group, equities analysts predict that NuScale Power Corporation will post -0.64 EPS for the current fiscal year.

Insider Activity

In related news, Director Shinji Fujino sold 20,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $8.86, for a total transaction of $177,200.00. Following the transaction, the director owned 17,242 shares in the company, valued at $152,764.12. This represents a 53.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Hamady sold 20,000 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $7.89, for a total transaction of $157,800.00. Following the sale, the chief financial officer directly owned 144,235 shares in the company, valued at approximately $1,138,014.15. This represents a 12.18% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 88,651 shares of company stock worth $791,270. 1.28% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the stock. Sequoia Financial Advisors LLC bought a new stake in shares of NuScale Power during the second quarter valued at approximately $126,000. WINTON GROUP Ltd acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $392,000. Integrated Wealth Concepts LLC raised its position in shares of NuScale Power by 153.6% during the second quarter. Integrated Wealth Concepts LLC now owns 65,623 shares of the company's stock worth $658,000 after acquiring an additional 39,751 shares during the last quarter. RFG Advisory LLC raised its position in shares of NuScale Power by 33.1% during the second quarter. RFG Advisory LLC now owns 60,622 shares of the company's stock worth $608,000 after acquiring an additional 15,092 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its stake in shares of NuScale Power by 203.3% during the second quarter. NewEdge Advisors LLC now owns 146,870 shares of the company's stock valued at $1,473,000 after acquiring an additional 98,440 shares during the period. 78.37% of the stock is owned by institutional investors.

NuScale Power Company Profile

NuScale Power Corporation develops small modular reactor (SMR) technology for the generation of carbon-free electricity and process heat. Its primary product is the VOYGR SMR power plant, which is based on the company's proprietary pressurized light-water reactor design. The plants are intended to be built from factory-produced modules and can be configured for applications including utility-scale power generation, industrial heat, hydrogen production, and water desalination.

NuScale provides reactor technology, engineering and design support, licensing assistance, and services intended to help customers develop and deploy SMR facilities.

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