NuScale Power (NYSE:SMR) Trading 5.5% Higher – What’s Next?

Shares of NuScale Power Co. (NYSE:SMR) traded up 5.5% during mid-day trading on Friday . The stock traded as high as $20.44 and last traded at $20.20. 3,603,265 shares traded hands during trading, a decline of 38% from the average session volume of 5,853,425 shares. The stock had previously closed at $19.14.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum lifted their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 0.7 %

The firm’s 50 day simple moving average is $12.60 and its 200-day simple moving average is $10.21. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of -18.46 and a beta of 1.11.

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

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 490,595 shares of company stock worth $6,287,356 in the last 90 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 added to or reduced their stakes in SMR. US Bancorp DE acquired a new stake in shares of NuScale Power during the 3rd quarter worth about $54,000. CWM LLC boosted its holdings in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC acquired a new position in shares of NuScale Power in the second quarter valued at approximately $64,000. TFC Financial Management Inc. bought a new position in shares of NuScale Power during the second quarter worth approximately $75,000. Finally, Fortitude Family Office LLC acquired a new stake in NuScale Power during the 2nd quarter worth approximately $98,000. 15.28% of the stock is owned by 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.