NuScale Power (NYSE:SMR) Stock Price Up 13.3% – What’s Next?

NuScale Power Corporation (NYSE:SMR)’s stock price traded up 13.3% on Thursday . The company traded as high as $23.35 and last traded at $22.8130. 41,736,166 shares were traded during trading, an increase of 181% from the average session volume of 14,875,587 shares. The stock had previously closed at $20.14.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Zacks Research downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Wednesday, November 12th. Canaccord Genuity Group increased their price objective on NuScale Power from $44.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada reduced their target price on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating for the company in a report on Monday, November 10th. Barclays began coverage on shares of NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price target on the stock. Finally, Wall Street Zen lowered shares of NuScale Power from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Three investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $36.12.

NuScale Power Price Performance

The stock has a 50 day moving average of $33.24 and a 200 day moving average of $36.44. The firm has a market cap of $6.81 billion, a P/E ratio of -7.98 and a beta of 2.09.

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

Insider Buying and Selling

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. In the last three months, insiders have sold 15,000,000 shares of company stock worth $604,862,902. Corporate insiders own 1.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. lifted its holdings in NuScale Power by 21.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock worth $46,000 after buying an additional 203 shares during the period. D.A. Davidson & CO. raised its holdings in shares of NuScale Power by 1.0% during the second quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock valued at $824,000 after acquiring an additional 212 shares in the last quarter. Pasadena Private Wealth LLC lifted its stake in NuScale Power by 4.9% in the third quarter. Pasadena Private Wealth LLC now owns 6,147 shares of the company’s stock worth $221,000 after acquiring an additional 287 shares during the period. Family Capital Management Inc. boosted its holdings in NuScale Power by 3.5% in the third quarter. Family Capital Management Inc. now owns 8,682 shares of the company’s stock valued at $313,000 after acquiring an additional 291 shares in the last quarter. Finally, Cibc World Market Inc. increased its position in NuScale Power by 3.8% during the 3rd quarter. Cibc World Market Inc. now owns 9,000 shares of the company’s stock valued at $324,000 after purchasing an additional 329 shares during the period. Hedge funds and other institutional investors 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.