NuScale Power (NYSE:SMR) Trading 4.4% Higher – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price shot up 4.4% during mid-day trading on Tuesday . The stock traded as high as $19.65 and last traded at $18.8760. 19,160,174 shares traded hands during mid-day trading, an increase of 30% from the average session volume of 14,710,418 shares. The stock had previously closed at $18.08.

Analyst Ratings Changes

A number of research firms have weighed in on SMR. UBS Group set a $20.00 price target on NuScale Power in a research report on Tuesday, November 25th. Zacks Research lowered NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Canaccord Genuity Group raised their price objective on NuScale Power from $44.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada dropped their target price on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a research report on Monday, November 10th. Finally, Cantor Fitzgerald assumed coverage on NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price for the company. Three research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $36.12.

NuScale Power Trading Up 4.4%

The firm has a fifty day moving average of $34.09 and a two-hundred day moving average of $36.59. The company has a market capitalization of $5.63 billion, a PE ratio of -6.60 and a beta of 2.03.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The company had revenue of $8.24 million for the quarter, compared to analysts’ expectations of $11.29 million. During the same period last year, the company posted ($0.18) EPS. The business’s revenue for the quarter was up 1635.2% compared to the same quarter last year. On average, equities analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, Director Corp Fluor sold 87,900 shares of the business’s stock in a transaction dated Wednesday, October 8th. The shares were sold at an average price of $39.58, for a total value of $3,479,082.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 15,000,000 shares of company stock valued at $604,862,902. 1.20% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several large investors have recently modified their holdings of SMR. CX Institutional bought a new position in NuScale Power during the 3rd quarter valued at approximately $25,000. Nemes Rush Group LLC purchased a new position in shares of NuScale Power during the third quarter valued at approximately $25,000. Strategic Advocates LLC bought a new position in shares of NuScale Power during the third quarter valued at approximately $25,000. Quantbot Technologies LP bought a new position in shares of NuScale Power during the first quarter valued at approximately $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock worth $31,000 after acquiring an additional 359 shares during the period. 78.37% 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.