NuScale Power (NYSE:SMR) Shares Up 4.6% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price traded up 4.6% on Friday . The company traded as high as $19.47 and last traded at $19.24. 5,789,481 shares changed hands during trading, an increase of 3% from the average session volume of 5,638,771 shares. The stock had previously closed at $18.39.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. Finally, B. Riley increased their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One equities 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 2.6 %

The firm has a market cap of $4.70 billion, a PE ratio of -18.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The business has a fifty day moving average price of $11.24 and a two-hundred day moving average price of $9.56.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period last year, the firm earned ($0.13) EPS.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction 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 owns 14,054 shares in the company, valued at approximately $153,188.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 490,595 shares of company stock valued at $6,287,356. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Large investors have recently made changes to their positions in the stock. Swedbank AB bought a new stake in NuScale Power during the first quarter worth approximately $18,585,000. Van ECK Associates Corp acquired a new position in NuScale Power in the 2nd quarter valued at $7,600,000. Bank of New York Mellon Corp grew its position in shares of NuScale Power by 97.3% in the second 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 last quarter. SG Americas Securities LLC increased its stake in shares of NuScale Power by 244.7% in the second 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 period. Finally, International Assets Investment Management LLC boosted its stake in NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock valued at $1,328,000 after purchasing an additional 109,142 shares during the period. Institutional investors 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.