TD Cowen analyst Marc Bianchi has maintained their bullish stance on SMR stock, giving a Buy rating yesterday.
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Marc Bianchi’s rating is based on several factors that highlight both challenges and opportunities for NuScale Power. Despite a delay in the final investment decision for their first project with RoPower, management remains optimistic about securing a new customer by the end of 2025. This optimism is partly driven by the recent approval of their uprated 77MW NPM design, which has re-engaged at least one potential customer.
Additionally, while there is an expectation of increased cash use in the latter half of the year due to the purchase of long lead materials, NuScale maintains a strong cash balance. The company’s supply chain partner, Doosan, is actively manufacturing components, indicating readiness for future projects. Furthermore, the strategic shift by Fluor, a major stakeholder, suggests potential changes in market dynamics that could benefit NuScale. These factors collectively contribute to the Buy rating given by Marc Bianchi.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SMR in relation to earlier this year.