NuScale Power (NYSE:SMR) Trading Up 7.6%

NuScale Power Co. (NYSE:SMR) rose 7.6% during trading on Friday . The company traded as high as $13.07 and last traded at $12.79. Approximately 5,271,362 shares changed hands during mid-day trading, an increase of 7% from the average daily volume of 4,934,156 shares. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

Several research firms recently commented on SMR. Craig Hallum began coverage on shares of NuScale Power in a research note on Thursday. They issued a “buy” rating and a $16.00 price target on the stock. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. Finally, CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Stock Performance

The firm’s fifty day moving average price is $9.30 and its 200 day moving average price is $8.36. The firm has a market cap of $3.17 billion, a P/E ratio of -15.02 and a beta of 1.22. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last posted its 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). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the prior year, the company earned ($0.13) EPS. Sell-side analysts expect that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Activity

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,171 shares of company stock worth $3,285,970. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of the stock. International Assets Investment Management LLC acquired a new position in NuScale Power during the 2nd quarter valued at approximately $64,000. TFC Financial Management Inc. purchased a new stake in shares of NuScale Power during the second quarter valued at $75,000. Fortitude Family Office LLC acquired a new stake in NuScale Power during the 2nd quarter worth about $98,000. Quest Partners LLC purchased a new stake in NuScale Power during the 2nd quarter valued at about $115,000. Finally, Mesirow Financial Investment Management Inc. acquired a new position in shares of NuScale Power in the first quarter valued at about $53,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.