NuScale Power (NYSE:SMR) Trading 1.6% Higher – Here’s Why

NuScale Power Co. (NYSE:SMR) shot up 1.6% on Monday . The stock traded as high as $19.69 and last traded at $18.50. 9,850,784 shares traded hands during trading, an increase of 80% from the average session volume of 5,466,865 shares. The stock had previously closed at $18.21.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SMR. Craig Hallum lifted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, B. Riley increased their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The firm has a market cap of $4.65 billion, a PE ratio of -17.96 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. The company has a 50 day moving average price of $10.55 and a 200 day moving average price of $9.27.

NuScale Power (NYSE:SMR) last announced 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). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The firm had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the prior year, the business earned ($0.13) EPS.

Insider Buying and Selling at NuScale Power

In related news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares of the company’s stock, valued at $190,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. 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 490,595 shares of company stock valued at $6,287,356 over the last quarter. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Allspring Global Investments Holdings LLC acquired a new position in shares of NuScale Power during the 3rd quarter valued at about $175,000. Exchange Traded Concepts LLC increased its position in NuScale Power by 40.9% during the third quarter. Exchange Traded Concepts LLC now owns 74,835 shares of the company’s stock worth $867,000 after purchasing an additional 21,718 shares during the last quarter. CWM LLC boosted its holdings in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. Evanson Asset Management LLC grew its stake in shares of NuScale Power by 23.1% during the 3rd quarter. Evanson Asset Management LLC now owns 32,000 shares of the company’s stock valued at $371,000 after buying an additional 6,000 shares during the period. Finally, Handelsbanken Fonder AB increased its holdings in shares of NuScale Power by 68.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 24,200 shares of the company’s stock worth $280,000 after buying an additional 9,800 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.