NuScale Power (NYSE:SMR) Reaches New 1-Year High Following Analyst Upgrade

NuScale Power Co. (NYSE:SMR)’s stock price hit a new 52-week high during mid-day trading on Thursday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. NuScale Power traded as high as $19.72 and last traded at $18.72, with a volume of 2754659 shares trading hands. The stock had previously closed at $19.07.

A number of other analysts also recently issued reports on SMR. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. B. Riley lifted their target price on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average target price of $10.39.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the sale, the insider now directly owns 14,054 shares in the company, valued at $182,983.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,729 shares of company stock worth $4,178,595 over the last ninety days. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. Avantax Advisory Services Inc. purchased a new position in NuScale Power in the first quarter valued at $58,000. CWM LLC grew its position in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of NuScale Power during the second quarter worth approximately $64,000. TFC Financial Management Inc. acquired a new stake in NuScale Power in the second quarter valued at approximately $75,000. Finally, Resurgent Financial Advisors LLC lifted its stake in NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after acquiring an additional 7,400 shares during the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

NuScale Power Stock Down 1.8 %

The firm’s fifty day simple moving average is $10.19 and its 200 day simple moving average is $9.07. The company has a market cap of $4.66 billion, a price-to-earnings ratio of -18.50 and a beta of 1.25. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

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

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.