NuScale Power (NYSE:SMR) Stock Price Up 1.3%

NuScale Power Co. (NYSE:SMR) shares shot up 1.3% during mid-day trading on Wednesday . The stock traded as high as $13.70 and last traded at $12.94. 2,467,000 shares were traded during mid-day trading, a decline of 48% from the average session volume of 4,718,595 shares. The stock had previously closed at $12.77.

Wall Street Analysts Forecast Growth

SMR has been the subject of several recent research reports. UBS Group upped their price objective on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Canaccord Genuity Group lifted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a report on Monday, March 18th. B. Riley increased their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 price target (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, NuScale Power currently has a consensus rating of “Hold” and an average target price of $8.15.

NuScale Power Price Performance

The company has a market cap of $3.24 billion, a price-to-earnings ratio of -15.35 and a beta of 1.25. The firm has a 50-day moving average price of $8.86 and a 200 day moving average price of $5.73.

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

Insider Buying and Selling

In other news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the transaction, the general counsel now owns 19,054 shares in the company, valued at $115,657.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at approximately $263,035.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 56,131 shares of company stock valued at $339,745. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in SMR. Global Retirement Partners LLC acquired a new position in NuScale Power during the fourth quarter worth about $25,000. Fortitude Family Office LLC acquired a new stake in NuScale Power in the second quarter valued at approximately $98,000. Mesirow Financial Investment Management Inc. bought a new stake in shares of NuScale Power during the first quarter worth $53,000. Essex Private Wealth Management LLC bought a new position in shares of NuScale Power in the 4th quarter valued at $33,000. Finally, Sloy Dahl & Holst LLC bought a new stake in NuScale Power during the 4th quarter worth $33,000. 15.28% of the stock is owned by institutional investors.

NuScale Power Company Profile

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.