NuScale Power (NYSE:SMR) Trading 5.6% Higher

NuScale Power Co. (NYSE:SMR) was up 5.6% during trading on Wednesday . The stock traded as high as $11.57 and last traded at $11.54. Approximately 1,418,233 shares changed hands during trading, a decline of 69% from the average daily volume of 4,637,089 shares. The stock had previously closed at $10.93.

Analyst Ratings Changes

Several equities research analysts have recently commented on SMR shares. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. UBS Group increased their target price on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. B. Riley increased their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Canaccord Genuity Group increased their target price on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $8.15.

NuScale Power Trading Up 7.6 %

The firm has a market capitalization of $2.86 billion, a P/E ratio of -13.55 and a beta of 1.24. The company has a 50 day simple moving average of $7.92 and a two-hundred day simple moving average of $5.31.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. The business had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. During the same period in the prior year, the company posted ($0.16) EPS. On average, sell-side analysts expect that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now directly owns 19,054 shares in the company, valued at approximately $115,657.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now directly owns 19,054 shares in the company, valued at approximately $115,657.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 15,776 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $95,287.04. Following the transaction, the chief technology officer now owns 478,306 shares of the company’s stock, valued at $2,888,968.24. The disclosure for this sale can be found here. Insiders sold 56,131 shares of company stock worth $339,745 in the last three months. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its holdings in NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after buying an additional 4,014 shares during the period. Resurgent Financial Advisors LLC raised its holdings in NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after buying an additional 7,400 shares during the period. Global Retirement Partners LLC purchased a new stake in NuScale Power during the 4th quarter valued at $25,000. Evanson Asset Management LLC raised its holdings in NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after buying an additional 7,986 shares during the period. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power during the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

NuScale Power Company Profile

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.