NuScale Power (NYSE:SMR) Shares Up 5.2% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares shot up 5.2% during mid-day trading on Wednesday . The company traded as high as $23.28 and last traded at $22.05. 8,244,521 shares traded hands during trading, a decline of 29% from the average session volume of 11,664,905 shares. The stock had previously closed at $20.95.

Wall Street Analyst Weigh In

Separately, Craig Hallum upped their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average price of $22.72 and a 200 day moving average price of $16.55. The stock has a market cap of $5.45 billion, a PE ratio of -22.54 and a beta of 1.47.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same quarter in the prior year, the business posted ($0.26) earnings per share.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Toth Financial Advisory Corp lifted its holdings in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares during the period. Union Bancaire Privee UBP SA purchased a new position in NuScale Power during the 4th quarter worth approximately $67,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power during the 3rd quarter valued at approximately $44,000. KBC Group NV acquired a new stake in shares of NuScale Power in the fourth quarter worth $70,000. Finally, US Bancorp DE purchased a new position in shares of NuScale Power during the third quarter worth $54,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.