NuScale Power (NYSE:SMR) Trading 1.6% Higher

NuScale Power Co. (NYSE:SMR) shares traded up 1.6% during mid-day trading on Monday . The stock traded as high as $16.88 and last traded at $15.59. 5,504,554 shares traded hands during trading, an increase of 14% from the average session volume of 4,822,383 shares. The stock had previously closed at $15.34.

Analyst Ratings Changes

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

NuScale Power Stock Up 2.5 %

The firm’s 50-day simple moving average is $9.05 and its 200 day simple moving average is $5.85. The stock has a market capitalization of $3.82 billion, a P/E ratio of -17.85 and a beta of 1.24.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The firm had revenue of $1.38 million for the quarter, compared to analysts’ expectations of $3.15 million. During the same period in the previous year, the business earned ($0.16) earnings per share. As a group, equities analysts anticipate that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now owns 43,549 shares in the company, valued at approximately $263,035.96. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, General Counsel Robert K. Temple sold 8,873 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 $53,592.92. Following the completion of the sale, the general counsel now directly owns 42,860 shares of the company’s stock, valued at $258,874.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at $263,035.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,131 shares of company stock worth $339,745. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after purchasing an additional 204,505 shares in the last quarter. Quadrature Capital Ltd acquired a new position in NuScale Power in the fourth quarter worth approximately $417,000. Rheos Capital Works Inc. acquired a new position in NuScale Power in the first quarter worth approximately $1,328,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after buying an additional 172,408 shares during the last quarter. Finally, Arizona State Retirement System acquired a new position in NuScale Power in the fourth quarter worth approximately $34,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

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.