NuScale Power Corporation (SMR): Technicals Say You should Hold

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NuScale Power Corporation (NYSE:SMR) saw an upside of 2.95% to $10.81 after adding $0.31 on Wednesday. The 5-day average trading volume is 821,248 shares of the company’s common stock. It has gained $11.32 in the past week and touched a new high 3 times within the past 5 days. An average of 591,342 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 615,423.

SMR’s 1-month performance is 2.44% or $0.64 on its low of $9.83 reached on 12/27/22. The company’s shares have touched a 52-week low of $8.87 and high of $15.85, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, SMR has achieved 2.34% or $0.49 and has reached a new high 8 times. However, the current price is down -31.80% from the 52-week high price.


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Insider Transactions

SMR stock investors last saw insider trading activity on Jan 03.Temple Robert K (General Counsel) most recently sold 39,642 shares at $10.19 per share on Jan 03. This transaction cost the insider $403,770. Director, Panichi Chris, sold 3,500 shares at a price of $10.28 on Dec 15. Then, on Nov 15, Chief Technology Officer Reyes Jose N Jr sold 191,223 shares at a price of $11.65 per share. This transaction amounted to $2,227,748.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 241.80 while the price-to-book (PB) in the most recent quarter is 4.75.

NuScale Power Corporation’s quick ratio for the period ended September 29 was 8.20, with the current ratio over the same period at 8.20. In terms of profitability, the gross margin trailing 12 months is 42.80%.

Earnings Surprise

For the quarterly period ending September 29 this year, NuScale Power Corporation’s cash and short-term investments amounted to $50.0 million. Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 100.0% to -$10.71 million, while revenue of -$2.59 million was 75.82% off the previous quarter. Analysts expected SMR to announce -$0.08 per share in earnings in its latest quarter, but it posted -$0.19, representing a -137.50% surprise. EBITDA for the quarter stood at more than -$65.39 million. Shareholders hold equity totaling $225.79 million.

Let’s look briefly at NuScale Power Corporation (SMR) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 60.52% to suggest the stock is trending Neutral, with historical volatility in this time period at 30.73%.

The stock’s 5-day moving average is $10.45, reflecting a +3.76% or $0.39 change from its current price. SMR is currently trading +6.33% above its 20-day SMA, -21.65% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by -7.88% and SMA200 by+3.37%.

Stochastic %K and %D was 35.50% and 29.14% and the average true range (ATR) pointed at 0.51. The RSI (14) points at 55.35%, while the 14-day stochastic is at 51.90% with the period’s ATR at 0.48. The stock’s 9-day MACD Oscillator is pointing at -0.01 and 0.00 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for NuScale Power Corporation (NYSE: SMR), UBS launched coverage with a Neutral rating.

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