NuScale Power (SMR) Soars 16.22% on Revenue Growth, NRC Approval

NuScale Power (SMR) experienced a significant surge in its share price, reaching a record high today with an intraday gain of 3.15%.

The strategy of buying SMR shares after they reached a recent high and holding for 1 week showed poor performance over the past 5 years. The annualized return was -22.4%, significantly underperforming the market. This indicates that relying on recent highs as a buying trigger and holding for a short duration is not a viable strategy for SMR or similar stocks.

NuScale Power's revenue growth projections are a key driver of its recent stock price performance. The company is expected to see a 46% increase in revenue this year, followed by an impressive 188% growth next year, reaching $155.5 million. This strong revenue growth outlook has attracted investor attention and contributed to the positive sentiment surrounding the stock.

Another significant factor is the approval by the Nuclear Regulatory Commission (NRC) of the 77 MWe NuScale Power Module. This approval reduces operational risks and streamlines processes, further boosting investor confidence in the company's future prospects.

NuScale Power has been identified as a high-growth momentum stock, characterized by strong technical and fundamental attributes. The company meets Mark Minervini’s Trend Template criteria, demonstrating robust revenue and earnings growth. Analysts have revised their estimates upward, reflecting the positive outlook for the company.

The recent stock performance of NuScale Power has been particularly noteworthy. The company's share price surged by 16.22% as of June 11, reaching an all-time high. This performance has drawn significant investor interest and contributed to the bullish momentum in the stock.

Technical indicators also support the strong performance of NuScale Power's stock. The stock is trading above key moving averages with high relative strength, indicating a robust market performance and a bullish outlook. This technical strength further reinforces the positive sentiment surrounding the company.