NuScale Power (NYSE:SMR) Shares Up 4.5% – What’s Next?

NuScale Power Co. (NYSE:SMR) shot up 4.5% during mid-day trading on Thursday . The stock traded as high as $24.35 and last traded at $22.99. 6,695,784 shares were traded during mid-day trading, a decline of 43% from the average session volume of 11,697,980 shares. The stock had previously closed at $22.00.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One 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 data from MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Up 1.1 %

The business’s fifty day moving average price is $22.44 and its 200 day moving average price is $16.69. The company has a market capitalization of $6.09 billion, a P/E ratio of -25.09 and a beta of 1.47. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same period in the previous year, the business posted ($0.26) earnings per share.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. Canal Insurance CO grew its position in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after buying an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC grew its position in shares of NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the period. JPMorgan Chase & Co. grew its position in shares of NuScale Power by 204.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after buying an additional 111,812 shares during the period. Finally, Stifel Financial Corp grew its holdings in NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after purchasing an additional 100,995 shares during the period. Institutional investors and hedge funds own 78.37% 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.