NuScale Power (NYSE:SMR) Stock Price Up 4.8%

NuScale Power Co. (NYSE:SMR)’s share price traded up 4.8% during trading on Thursday . The company traded as high as $10.07 and last traded at $9.88. 1,282,552 shares traded hands during trading, a decline of 74% from the average session volume of 5,024,227 shares. The stock had previously closed at $9.43.

Wall Street Analyst Weigh In

Separately, B. Riley boosted their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.15.

NuScale Power Trading Down 0.5 %

The business has a fifty day moving average price of $10.61 and a two-hundred day moving average price of $7.12. The firm has a market capitalization of $2.28 billion, a PE ratio of -11.62 and a beta of 1.25.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 56.25% and a negative net margin of 592.28%. The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same period in the previous year, the company posted ($0.13) EPS. On average, equities analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares in the company, valued at $190,540. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares in the company, valued at $190,540. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Swedbank AB purchased a new stake in shares of NuScale Power during the first quarter worth approximately $18,585,000. Van ECK Associates Corp acquired a new stake in NuScale Power in the second quarter valued at about $7,600,000. Rheos Capital Works Inc. purchased a new stake in NuScale Power in the 1st quarter valued at approximately $1,328,000. Bank of New York Mellon Corp increased its position in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after purchasing an additional 137,382 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of NuScale Power by 244.7% during the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after buying an additional 131,570 shares in the last quarter. Hedge funds and other institutional investors own 15.28% 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.