NuScale Power (NYSE:SMR) Hits New 1-Year High at $12.15

Shares of NuScale Power Co. (NYSE:SMR) reached a new 52-week high during trading on Wednesday . The company traded as high as $12.15 and last traded at $11.56, with a volume of 4250334 shares traded. The stock had previously closed at $10.97.

Analyst Upgrades and Downgrades

A number of research firms have commented on SMR. Canaccord Genuity Group lifted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. UBS Group lifted their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, B. Riley lifted their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $8.15.

NuScale Power Price Performance

The stock’s 50-day moving average price is $7.55 and its 200-day moving average price is $5.12. The company has a market cap of $2.91 billion, a P/E ratio of -14.10 and a beta of 1.17.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The business had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $3.15 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. As a group, analysts expect that NuScale Power Co. will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the sale, the general counsel now owns 19,054 shares of the company’s stock, valued at $115,657.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now owns 19,054 shares of the company’s stock, valued at $115,657.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 15,776 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $95,287.04. Following the transaction, the chief technology officer now directly owns 478,306 shares of the company’s stock, valued at approximately $2,888,968.24. The disclosure for this sale can be found here. Insiders sold 56,131 shares of company stock valued at $339,745 over the last quarter. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SMR. Swedbank AB acquired a new position in NuScale Power during the first quarter worth about $18,585,000. FMR LLC increased its stake in shares of NuScale Power by 11.2% in the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock valued at $14,619,000 after buying an additional 301,548 shares during the period. Rheos Capital Works Inc. acquired a new position in shares of NuScale Power in the first quarter valued at approximately $1,328,000. Vanguard Group Inc. increased its stake in shares of NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after buying an additional 204,505 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after buying an additional 172,408 shares during the period. Institutional investors and hedge funds 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.