NuScale Power (NYSE:SMR) Stock Price Up 2.1%

NuScale Power Co. (NYSE:SMR) shares traded up 2.1% during mid-day trading on Wednesday . The company traded as high as $12.36 and last traded at $12.13. 1,694,634 shares were traded during mid-day trading, a decline of 66% from the average session volume of 4,946,645 shares. The stock had previously closed at $11.88.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on SMR shares. B. Riley boosted their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Craig Hallum began coverage on shares of NuScale Power in a report on Thursday, September 26th. They issued a “buy” rating and a $16.00 price objective on the stock. Finally, CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock’s 50-day moving average price is $9.34 and its 200-day moving average price is $8.49. The company has a market cap of $3.10 billion, a P/E ratio of -14.27 and a beta of 1.22.

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 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 business had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same quarter in the previous year, the company earned ($0.13) EPS.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at $168,648. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The disclosure for this sale can be found here. Insiders have sold a total of 306,171 shares of company stock worth $3,285,970 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the business. Truist Financial Corp acquired a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $177,000. Susquehanna Fundamental Investments LLC bought a new position in shares of NuScale Power in the 2nd quarter valued at $419,000. The Manufacturers Life Insurance Company grew its position in NuScale Power by 37.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after acquiring an additional 8,096 shares during the last quarter. Squarepoint Ops LLC bought a new position in NuScale Power in the second quarter valued at about $783,000. Finally, Sei Investments Co. bought a new stake in shares of NuScale Power during the second quarter worth about $520,000. 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.