NuScale Power (NYSE:SMR) Shares Up 10.9%

NuScale Power Co. (NYSE:SMR) shares shot up 10.9% on Tuesday . The stock traded as high as $12.50 and last traded at $12.27. 4,180,905 shares traded hands during trading, a decline of 16% from the average session volume of 4,951,605 shares. The stock had previously closed at $11.06.

Analyst Ratings Changes

Separately, B. Riley increased their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power currently has an average rating of “Hold” and an average target price of $8.15.

NuScale Power Stock Up 3.5 %

The stock has a market cap of $2.78 billion, a P/E ratio of -14.44 and a beta of 1.24. The business’s 50-day simple moving average is $9.94 and its two-hundred day simple moving average is $6.29.

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

Insider Transactions at NuScale Power

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

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $25,000. Essex Private Wealth Management LLC purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $33,000. Sloy Dahl & Holst LLC purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $33,000. Arizona State Retirement System purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $34,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of NuScale Power during the fourth quarter worth approximately $36,000. 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.