NuScale Power (NYSE:SMR) Trading Up 2.4% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price was up 2.4% on Thursday . The stock traded as high as $21.97 and last traded at $21.93. Approximately 3,220,006 shares changed hands during trading, a decline of 45% from the average daily volume of 5,899,305 shares. The stock had previously closed at $21.41.

Analyst Upgrades and Downgrades

SMR has been the subject of several analyst reports. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

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 has a market cap of $5.54 billion, a price-to-earnings ratio of -21.29 and a beta of 1.12. The business has a fifty day moving average price of $13.28 and a 200 day moving average price of $10.52.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. During the same quarter in the previous year, the company earned ($0.13) earnings per share.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at $190,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at $190,540. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 478,293 shares of company stock worth $6,179,222 over the last ninety days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of SMR. US Bancorp DE purchased a new stake in NuScale Power in the 3rd quarter worth about $54,000. Avantax Advisory Services Inc. bought a new position in NuScale Power in the 1st quarter worth about $58,000. CWM LLC boosted its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new position in NuScale Power in the 2nd quarter worth about $64,000. Finally, TFC Financial Management Inc. bought a new position in NuScale Power in the 2nd quarter worth about $75,000. 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.