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

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

Analyst Ratings Changes

SMR has been the subject of a number of analyst reports. 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 note on Thursday, October 17th. B. Riley raised their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, CLSA initiated coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The stock has a 50-day moving average of $10.90 and a 200 day moving average of $9.44. The firm has a market capitalization of $4.21 billion, a P/E ratio of -19.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last announced 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 business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same quarter in the previous year, the company posted ($0.13) EPS.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $153,188.60. 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 accessible through this link. In other news, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the business. Swedbank AB bought a new position in NuScale Power in the first quarter valued at approximately $18,585,000. Van ECK Associates Corp acquired a new position in shares of NuScale Power in the 2nd quarter valued at $7,600,000. Bank of New York Mellon Corp lifted its stake in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after purchasing an additional 137,382 shares during the period. SG Americas Securities LLC boosted its position in shares of NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after purchasing an additional 131,570 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of NuScale Power by 1,984.4% during the third quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after purchasing an additional 109,142 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

About NuScale Power

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.