NuScale Power (NYSE:SMR) Shares Up 3%

NuScale Power Co. (NYSE:SMR) traded up 3% during trading on Thursday . The stock traded as high as $14.07 and last traded at $13.93. 2,726,798 shares traded hands during trading, a decline of 42% from the average session volume of 4,726,139 shares. The stock had previously closed at $13.53.

Analyst Ratings Changes

SMR has been the subject of several analyst reports. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Canaccord Genuity Group boosted their target price on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. UBS Group increased their price target on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power currently has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Stock Performance

The firm’s 50 day moving average is $8.72 and its 200 day moving average is $5.68. The stock has a market cap of $3.17 billion, a P/E ratio of -16.39 and a beta of 1.25.

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

Insiders Place Their Bets

In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, General Counsel Robert K. Temple sold 8,873 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $53,592.92. Following the completion of the transaction, the general counsel now directly owns 42,860 shares in the company, valued at $258,874.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,131 shares of company stock valued at $339,745. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in NuScale Power in the 4th quarter worth about $25,000. Fortitude Family Office LLC acquired a new stake in NuScale Power in the 2nd quarter valued at $98,000. Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power in the 1st quarter worth $53,000. Essex Private Wealth Management LLC acquired a new position in NuScale Power during the fourth quarter worth $33,000. Finally, Sloy Dahl & Holst LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $33,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.