NuScale Power (NYSE:SMR) Trading 4.4% Higher

NuScale Power Co. (NYSE:SMR)’s share price rose 4.4% on Tuesday . The company traded as high as $10.63 and last traded at $10.46. Approximately 2,113,560 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 4,510,486 shares. The stock had previously closed at $10.02.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of analyst reports. Canaccord Genuity Group boosted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. UBS Group upped their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 target price (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $7.75.

NuScale Power Price Performance

The firm’s 50 day moving average price is $7.41 and its 200-day moving average price is $5.07.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). The company had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter last year, the firm earned ($0.16) EPS. On average, sell-side analysts expect that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at approximately $263,035.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $95,287.04. Following the sale, the chief technology officer now directly owns 478,306 shares in the company, valued at approximately $2,888,968.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now owns 43,549 shares in the company, valued at $263,035.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,131 shares of company stock valued at $339,745. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Hedge funds have recently bought and sold shares of the stock. Global Retirement Partners LLC acquired a new stake in NuScale Power during the 4th quarter worth approximately $25,000. Essex Private Wealth Management LLC acquired a new stake in NuScale Power during the 4th quarter worth approximately $33,000. Sloy Dahl & Holst LLC acquired a new stake in NuScale Power during the 4th quarter worth approximately $33,000. Arizona State Retirement System acquired a new stake in NuScale Power during the 4th quarter worth approximately $34,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in NuScale Power during the 4th quarter worth approximately $36,000. 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.