NuScale Power (NYSE:SMR) Stock Price Up 7.4% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price rose 7.4% during trading on Friday . The company traded as high as $33.35 and last traded at $33.34. Approximately 4,848,962 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 9,188,339 shares. The stock had previously closed at $31.05.

Analyst Ratings Changes

SMR has been the topic of a number of analyst reports. UBS Group upped their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a “buy” rating in a research note on Thursday, May 29th. BTIG Research reaffirmed a “buy” rating on shares of NuScale Power in a research note on Tuesday, May 13th. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an “outperform” rating in a research note on Tuesday, May 27th. Finally, The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

NuScale Power Stock Performance

The firm has a market capitalization of $9.78 billion, a P/E ratio of -36.21 and a beta of 2.00. The company’s 50 day moving average is $20.67 and its 200-day moving average is $20.97. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last issued its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. As a group, equities analysts anticipate that NuScale Power Co. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other NuScale Power news, CEO John Lawrence Hopkins sold 34,675 shares of the company’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer now owns 49,019 shares in the company, valued at approximately $833,323. This represents a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 1,565 shares of the company’s stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the transaction, the vice president now owns 1,218 shares in the company, valued at approximately $20,632.92. The trade was a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 128,278 shares of company stock worth $2,286,280. Insiders own 1.27% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC acquired a new position in NuScale Power during the fourth quarter worth $33,000. Quantbot Technologies LP purchased a new stake in shares of NuScale Power in the first quarter valued at about $27,000. Venturi Wealth Management LLC raised its holdings in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Twin Tree Management LP purchased a new stake in shares of NuScale Power in the fourth quarter valued at about $42,000. Finally, Amalgamated Bank raised its holdings in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares during the last quarter. Institutional investors and hedge funds own 78.37% 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.