NuScale Power (NYSE:SMR) Trading Up 9%

NuScale Power Co. (NYSE:SMR)’s share price rose 9% during mid-day trading on Friday . The company traded as high as $8.75 and last traded at $8.75. Approximately 1,289,791 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 4,962,733 shares. The stock had previously closed at $8.03.

Wall Street Analyst Weigh In

Separately, B. Riley lifted their target price 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 research analyst has rated the stock with a sell rating, one has assigned 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 $8.15.

NuScale Power Stock Performance

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a 50 day simple moving average of $10.69 and a two-hundred day simple moving average of $7.38. The stock has a market capitalization of $2.11 billion, a P/E ratio of -10.20 and a beta of 1.25.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The company had revenue of $0.97 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned ($0.13) earnings per share. On average, equities analysts forecast that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at approximately $266,539.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its stake in NuScale Power by 25.5% in the 1st 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 period. International Assets Investment Management LLC bought a new stake in NuScale Power in the 2nd quarter valued at $64,000. TFC Financial Management Inc. bought a new stake in NuScale Power in the 2nd quarter valued at $75,000. Resurgent Financial Advisors LLC boosted its stake in NuScale Power by 100.0% in the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after purchasing an additional 7,400 shares during the period. Finally, Evanson Asset Management LLC boosted its stake in NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after purchasing an additional 7,986 shares during the period. 15.28% 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.