NuScale Power (NYSE:SMR) Hits New 12-Month High at $13.94

NuScale Power Co. (NYSE:SMR) hit a new 52-week high during trading on Thursday . The company traded as high as $13.94 and last traded at $13.88, with a volume of 1382916 shares changing hands. The stock had previously closed at $13.53.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. B. Riley increased 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. UBS Group raised their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company restated an “underweight” rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group raised their price objective 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. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $8.15.

NuScale Power Stock Performance

The company’s 50 day simple moving average is $9.05 and its two-hundred day simple moving average is $5.82.

NuScale Power (NYSE:SMR) last announced its 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 company had revenue of $1.38 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted ($0.16) earnings per share. As a group, equities analysts forecast that NuScale Power Co. will post -0.55 EPS for the current year.

Insider Activity

In other news, insider Clayton Scott sold 7,191 shares of the firm’s 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 of the company’s stock, valued at $263,035.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the firm’s 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 $95,287.04. Following the completion of the transaction, the chief technology officer now owns 478,306 shares of the company’s stock, valued at $2,888,968.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the sale, the insider now directly owns 43,549 shares in the company, 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 valued at $339,745. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the business. Swedbank AB purchased a new stake in shares of NuScale Power in the 1st quarter worth about $18,585,000. Rheos Capital Works Inc. acquired a new position in NuScale Power in the 1st quarter valued at about $1,328,000. Vanguard Group Inc. raised its stake in NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after purchasing an additional 204,505 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in NuScale Power by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after purchasing an additional 172,408 shares during the last quarter. Finally, SG Americas Securities LLC raised 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 purchasing an additional 131,570 shares during the last quarter. 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.