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

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

Analysts Set New Price Targets

Several analysts recently issued reports on SMR shares. UBS Group boosted their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. B. Riley boosted 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. Wells Fargo & Company restated an “underweight” rating and set a $4.50 price target (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group increased their target price on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.15.

NuScale Power Price Performance

The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of -13.78 and a beta of 1.24. The stock has a 50 day simple moving average of $7.81 and a two-hundred day simple moving average of $5.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The company had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Equities research analysts predict that NuScale Power Co. will post -0.64 EPS for the current year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Clayton Scott sold 7,191 shares of NuScale Power stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the transaction, the insider now directly owns 43,549 shares in the company, valued at $263,035.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, General Counsel Robert K. Temple sold 8,873 shares of NuScale Power stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Clayton Scott sold 7,191 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,131 shares of company stock worth $339,745. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the stock. Price T Rowe Associates Inc. MD increased its holdings 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 buying an additional 4,014 shares in the last quarter. Resurgent Financial Advisors LLC grew its holdings in shares of NuScale Power by 100.0% in the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after acquiring an additional 7,400 shares during the period. Global Retirement Partners LLC purchased a new position in NuScale Power in the 4th quarter valued at approximately $25,000. Evanson Asset Management LLC raised its holdings in NuScale Power by 44.3% during the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after purchasing an additional 7,986 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. acquired a new stake in NuScale Power in the first quarter valued at $53,000. 15.28% of the stock is 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.