NuScale Power Stock Barely Budged After Earnings. Time to Buy?
NuScale Power now has a market cap under $4 billion.
Overview
On paper, NuScale Power (NYSE: SMR) failed to meet expectations when it reported quarterly earnings on Aug. 5. The nuclear power stock reported a quarterly loss of $0.13 per share, in line with expectations. Revenue, however, came in at just $80,000 for the quarter, missing estimates by 93%. Sales were down 99% versus the quarter prior.
These are poor figures for a company that supposedly has massive long-term growth potential. Yet shares traded mostly flat following earnings, with the stock price roughly where it was before the earnings announcement.
Details
The reality is that very little was expected of the company this quarter anyway. No major catalysts were expected to be revealed, and the company has no commercial projects underway, despite an impressive pipeline of interested customers. Revenue and profits, therefore, were always expected to be minimal and, in some ways, irrelevant to the company's long-term future.
Source
Originally published at www.fool.com.