NuScale Power (NYSE:SMR) Hits New 52-Week High Following Analyst Upgrade

Shares of NuScale Power Co. (NYSE:SMR) hit a new 52-week high on Thursday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. NuScale Power traded as high as $19.72 and last traded at $18.72, with a volume of 2754659 shares. The stock had previously closed at $19.07.

A number of other research analysts also recently issued reports on the company. B. Riley upped their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

Insider Activity

In related news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $153,188.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 374,729 shares of company stock valued at $4,178,595 in the last ninety days. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Swedbank AB acquired a new stake in NuScale Power during the first quarter valued at $18,585,000. Van ECK Associates Corp acquired a new stake in NuScale Power during the second quarter valued at $7,600,000. Rheos Capital Works Inc. acquired a new stake in NuScale Power during the first quarter valued at $1,328,000. Bank of New York Mellon Corp grew its position in NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after buying an additional 137,382 shares during the period. Finally, SG Americas Securities LLC grew its position in NuScale Power by 244.7% during the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares during the period. Institutional investors and hedge funds own 15.28% of the company’s stock.

NuScale Power Trading Down 5.5 %

The company has a market cap of $4.49 billion, a price-to-earnings ratio of -17.50 and a beta of 1.25. 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 company’s 50-day moving average is $10.37 and its 200 day moving average is $9.14.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same quarter last year, the business earned ($0.13) EPS.

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.