NuScale Power (NYSE:SMR) Shares Up 11.9% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price rose 11.9% on Tuesday . The stock traded as high as $24.98 and last traded at $24.59. Approximately 6,602,411 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 8,551,002 shares. The stock had previously closed at $21.97.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 13.1 %

The stock has a market capitalization of $7.38 billion, a PE ratio of -30.43 and a beta of 1.47. The stock’s 50-day moving average price is $22.80 and its two-hundred day moving average price is $16.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

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

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after buying an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in NuScale Power during the third quarter valued at $44,000. US Bancorp DE purchased a new stake in NuScale Power in the third quarter worth about $54,000. CWM LLC raised its stake in shares of NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of NuScale Power during the 4th quarter valued at about $67,000. 78.37% of the stock is currently owned by institutional investors.

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.