NuScale Power (NYSE:SMR) Stock Price Up 4.4% – Still a Buy?

by · The Markets Daily

NuScale Power Corporation (NYSE:SMR – Get Free Report) shares shot up 4.4% during mid-day trading on Thursday . The stock traded as high as $21.26 and last traded at $21.22. 22,090,435 shares were traded during trading, an increase of 47% from the average session volume of 15,020,999 shares. The stock had previously closed at $20.32.

Analyst Ratings Changes

A number of analysts recently commented on SMR shares. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 21st. UBS Group set a $20.00 price objective on shares of NuScale Power in a report on Tuesday, November 25th. BNP Paribas Exane lowered shares of NuScale Power from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 21st. Citigroup reiterated a “sell” rating and set a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Finally, Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Three analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $36.12.

Check Out Our Latest Analysis on SMR

NuScale Power Stock Up 4.4%

The company’s fifty day moving average price is $31.66 and its 200-day moving average price is $36.30. The stock has a market capitalization of $6.33 billion, a PE ratio of -7.42 and a beta of 2.09.

NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($1.74). The company had revenue of $8.24 million during the quarter, compared to analysts’ expectations of $11.29 million. NuScale Power had a negative return on equity of 51.27% and a negative net margin of 594.63%.The business’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.18) EPS. Equities research analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,040,000 shares of company stock worth $605,749,702 in the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently bought and sold shares of the company. Allworth Financial LP raised its holdings in NuScale Power by 7.8% in the third quarter. Allworth Financial LP now owns 10,492 shares of the company’s stock worth $378,000 after buying an additional 758 shares during the last quarter. IFP Advisors Inc increased its position in shares of NuScale Power by 128.3% during the third quarter. IFP Advisors Inc now owns 3,984 shares of the company’s stock valued at $143,000 after acquiring an additional 2,239 shares in the last quarter. Cantor Fitzgerald L. P. increased its position in shares of NuScale Power by 78.3% during the third quarter. Cantor Fitzgerald L. P. now owns 13,284 shares of the company’s stock valued at $478,000 after acquiring an additional 5,834 shares in the last quarter. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter worth approximately $25,000. Finally, KERR FINANCIAL PLANNING Corp bought a new position in NuScale Power in the 3rd quarter valued at approximately $94,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

(Get Free Report)

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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