NuScale Power (NYSE:SMR) Trading 5.6% Higher

NuScale Power Co. (NYSE:SMR)’s share price traded up 5.6% during mid-day trading on Wednesday . The company traded as high as $11.57 and last traded at $11.54. 1,418,233 shares traded hands during trading, a decline of 69% from the average session volume of 4,637,089 shares. The stock had previously closed at $10.93.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. UBS Group boosted their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. B. Riley boosted their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Canaccord Genuity Group boosted their price target on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.15.

NuScale Power Stock Performance

The stock has a market cap of $2.86 billion, a P/E ratio of -13.55 and a beta of 1.24. The company’s 50 day moving average price is $7.92 and its 200-day moving average price is $5.31.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting 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 firm had revenue of $1.38 million during the quarter, compared to analyst estimates of $3.15 million. During the same quarter in the prior year, the business posted ($0.16) EPS. On average, analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Clayton Scott sold 7,191 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Clayton Scott sold 7,191 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $263,035.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 56,131 shares of company stock valued at $339,745. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in NuScale Power by 25.5% during the first 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 last quarter. Resurgent Financial Advisors LLC lifted its holdings in NuScale Power by 100.0% during the first 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 last quarter. Global Retirement Partners LLC purchased a new stake in shares of NuScale Power in the fourth quarter worth about $25,000. Evanson Asset Management LLC lifted its holdings in shares of NuScale Power by 44.3% in the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after buying an additional 7,986 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in shares of NuScale Power in the first quarter worth about $53,000. 15.28% of the stock is owned by hedge funds and other 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.