NuScale Power (NYSE:SMR) Trading Up 7.6%

NuScale Power Co. (NYSE:SMR)’s share price was up 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.

Analyst Upgrades and Downgrades

SMR has been the subject of a number of recent research reports. Craig Hallum initiated coverage on shares of NuScale Power in a research note on Thursday. They set a “buy” rating and a $16.00 price target for the company. 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. Finally, B. Riley raised their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Trading Up 5.6 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The company’s fifty day moving average price is $9.32 and its two-hundred day moving average price is $8.42. The firm has a market cap of $3.13 billion, a PE ratio of -14.76 and a beta of 1.22.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data 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). The business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period in the prior year, the firm posted ($0.13) EPS. As a group, sell-side analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now owns 19,054 shares in the company, valued at approximately $190,540. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’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 value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The disclosure for this sale can be found here. Insiders have sold 306,171 shares of company stock valued at $3,285,970 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently bought and sold shares of the company. Swedbank AB purchased a new stake in shares of NuScale Power in the 1st quarter worth about $18,585,000. Van ECK Associates Corp acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $7,600,000. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $1,328,000. Bank of New York Mellon Corp increased its stake in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after purchasing an additional 137,382 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares in the last quarter. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

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.