NuScale Power (NYSE:SMR) Stock Price Up 7.1%

NuScale Power Co. (NYSE:SMR)’s share price shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $11.78 and last traded at $11.71. 1,480,855 shares changed hands during trading, a decline of 68% from the average session volume of 4,634,713 shares. The stock had previously closed at $10.93.

Wall Street Analysts Forecast Growth

SMR has been the subject of a number of research reports. B. Riley raised their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 target price (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Canaccord Genuity Group upped their price target on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Finally, UBS Group raised their price objective on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One 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, NuScale Power has an average rating of “Hold” and a consensus price target of $8.15.

NuScale Power Price Performance

The stock’s fifty day moving average is $8.04 and its two-hundred day moving average is $5.35.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, hitting the consensus estimate of ($0.21). The firm had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same period in the prior year, the business posted ($0.16) earnings per share. Analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 478,306 shares in the company, valued at approximately $2,888,968.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, General Counsel Robert K. Temple sold 8,873 shares of NuScale Power stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the sale, the general counsel now directly owns 42,860 shares in the company, valued at $258,874.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 15,776 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $95,287.04. Following the completion of the transaction, the chief technology officer now directly owns 478,306 shares in the company, valued at approximately $2,888,968.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,131 shares of company stock worth $339,745. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after purchasing an additional 4,014 shares during the last quarter. Resurgent Financial Advisors LLC lifted its position in shares of NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after buying an additional 7,400 shares during the last quarter. Global Retirement Partners LLC bought a new position in shares of NuScale Power during the 4th quarter worth $25,000. Evanson Asset Management LLC increased its holdings in NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after acquiring an additional 7,986 shares during the last quarter. Finally, Essex Private Wealth Management LLC bought a new stake in NuScale Power in the 4th quarter valued at about $33,000. 15.28% of the stock is currently owned by institutional investors.

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.