NuScale Power (NYSE:SMR) Trading 12.5% Higher

NuScale Power Co. (NYSE:SMR) rose 12.5% during mid-day trading on Friday . The company traded as high as $9.82 and last traded at $9.71. Approximately 2,344,197 shares traded hands during trading, a decline of 51% from the average daily volume of 4,792,260 shares. The stock had previously closed at $8.63.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SMR shares. B. Riley lifted their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. CLSA initiated coverage on NuScale Power in a research report on Friday. They set an “outperform” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $8.63.

NuScale Power Stock Up 8.3 %

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 capitalization of $2.33 billion, a PE ratio of -11.42 and a beta of 1.22. The stock’s 50 day moving average is $9.98 and its 200 day moving average is $7.90.

NuScale Power (NYSE:SMR) last posted 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 return on equity of 61.82% and a negative net margin of 592.28%. The company had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same period in the prior year, the business posted ($0.13) earnings per share. On average, sell-side analysts anticipate that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the transaction, the insider now directly owns 19,054 shares in the company, valued at $190,540. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares in the company, valued at $190,540. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,544 shares of company stock valued at $761,686. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC purchased a new stake in NuScale Power during the 2nd quarter worth about $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the 2nd quarter worth approximately $75,000. Fortitude Family Office LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $98,000. Quest Partners LLC acquired a new position in NuScale Power during the 2nd quarter valued at approximately $115,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in NuScale Power during the 1st quarter worth $53,000. 15.28% of the stock is currently 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.