NuScale Power (NYSE:SMR) Trading 4.2% Higher

Shares of NuScale Power Co. (NYSE:SMR) traded up 4.2% during trading on Thursday . The company traded as high as $8.42 and last traded at $8.38. 749,370 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 4,900,476 shares. The stock had previously closed at $8.04.

Wall Street Analyst Weigh In

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

NuScale Power Stock Performance

The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -9.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The company’s fifty day simple moving average is $10.57 and its two-hundred day simple moving average is $7.57.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period in the prior year, the business earned ($0.13) earnings per share. Equities research analysts predict that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The disclosure for this sale can be found here. In the last three months, insiders sold 81,544 shares of company stock valued at $761,686. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new stake in shares of NuScale Power in the first quarter worth $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the second quarter worth $7,600,000. Rheos Capital Works Inc. bought a new position in NuScale Power during the first quarter valued at about $1,328,000. Bank of New York Mellon Corp raised its holdings in NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after buying an additional 137,382 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in NuScale Power by 244.7% during the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares in the last quarter. 15.28% of the stock is currently owned by institutional investors.

About NuScale Power

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.