NuScale Power (NYSE:SMR) Trading Up 0.3%

NuScale Power Co. (NYSE:SMR)’s stock price was up 0.3% on Tuesday . The company traded as high as $11.94 and last traded at $11.62. Approximately 2,025,964 shares traded hands during mid-day trading, a decline of 59% from the average daily volume of 4,951,798 shares. The stock had previously closed at $11.58.

Analysts Set New Price Targets

Several research firms have issued reports on SMR. Craig Hallum began coverage on shares of NuScale Power in a research note on Thursday, September 26th. They set a “buy” rating and a $16.00 target price on the stock. B. Riley increased their price objective 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, CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Stock Up 3.7 %

The company’s 50-day simple moving average is $9.33 and its two-hundred day simple moving average is $8.46. The firm has a market capitalization of $2.99 billion, a P/E ratio of -13.67 and a beta of 1.22. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The company had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. During the same period in the prior year, the business posted ($0.13) earnings per share.

Insider Activity

In other news, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Robert K. Temple sold 144,627 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the sale, the insider now directly owns 19,054 shares of the company’s stock, valued at $190,540. The disclosure for this sale can be found here. Insiders have sold a total of 306,171 shares of company stock valued at $3,285,970 in the last ninety days. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently modified their holdings of SMR. Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power in the 1st quarter worth $53,000. Avantax Advisory Services Inc. purchased a new stake in shares of NuScale Power in the first quarter worth about $58,000. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter valued at approximately $64,000. TFC Financial Management Inc. purchased a new position in NuScale Power during the 2nd quarter valued at approximately $75,000. Finally, Resurgent Financial Advisors LLC increased its stake in 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 last quarter. Institutional investors own 15.28% of the company’s stock.

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.