NuScale Power (NYSE:SMR) Trading Up 3.1%

NuScale Power Co. (NYSE:SMR) shares traded up 3.1% on Friday . The stock traded as high as $12.36 and last traded at $11.95. 2,453,843 shares were traded during mid-day trading, a decline of 47% from the average session volume of 4,638,334 shares. The stock had previously closed at $11.59.

Analysts Set New Price Targets

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

NuScale Power Price Performance

The company’s 50 day moving average price is $8.15 and its two-hundred day moving average price is $5.40. The stock has a market capitalization of $3.14 billion, a PE ratio of -14.06 and a beta of 1.25.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The firm had revenue of $1.38 million for the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same period last year, the firm posted ($0.16) earnings per share. Analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Clayton Scott sold 7,191 shares of NuScale Power stock in a transaction that occurred 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 completion of the transaction, the insider now owns 43,549 shares in the company, valued at $263,035.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Clayton Scott sold 7,191 shares of NuScale Power stock in a transaction that occurred 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 completion of the transaction, the insider now owns 43,549 shares in the company, valued at $263,035.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction that occurred on 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 owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The disclosure for this sale can be found here. Insiders have sold 56,131 shares of company stock valued at $339,745 over the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after buying an additional 4,014 shares during the last quarter. Resurgent Financial Advisors LLC raised its position in NuScale Power by 100.0% in the 1st 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 NuScale Power in the 4th quarter valued at $25,000. Evanson Asset Management LLC raised its position in NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock valued at $138,000 after purchasing an additional 7,986 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power in the 1st quarter valued at $53,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.