NuScale Power (NYSE:SMR) Shares Up 7.1%

NuScale Power Co. (NYSE:SMR)’s stock price shot up 7.1% during trading on Friday . The stock traded as high as $14.01 and last traded at $13.99. 2,173,579 shares traded hands during trading, a decline of 54% from the average session volume of 4,736,961 shares. The stock had previously closed at $13.06.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SMR. Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. B. Riley boosted their target price 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. UBS Group boosted their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group upped their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $8.15.

NuScale Power Trading Up 16.3 %

The company has a market cap of $3.69 billion, a price-to-earnings ratio of -16.46 and a beta of 1.25. The stock’s fifty day simple moving average is $8.86 and its 200 day simple moving average is $5.73.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, meeting analysts’ consensus estimates of ($0.21). The company had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter in the prior year, the firm earned ($0.16) EPS. On average, analysts predict that NuScale Power Co. will post -0.55 EPS for the current year.

Insider Activity

In other news, General Counsel Robert K. Temple sold 8,873 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $53,592.92. Following the completion of the sale, the general counsel now owns 42,860 shares of the company’s stock, valued at approximately $258,874.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Clayton Scott sold 7,191 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Robert K. Temple sold 8,873 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the transaction, the general counsel now directly owns 42,860 shares of the company’s stock, valued at approximately $258,874.40. The disclosure for this sale can be found here. Insiders sold a total of 56,131 shares of company stock valued at $339,745 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. Vanguard Group Inc. raised its holdings in shares of NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after purchasing an additional 204,505 shares in the last quarter. Swedbank AB acquired a new stake in shares of NuScale Power in the 1st quarter valued at $18,585,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of NuScale Power by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after purchasing an additional 172,408 shares in the last quarter. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the 1st quarter valued at $1,328,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of NuScale Power in the 4th quarter valued at $417,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.