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

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

Wall Street Analysts Forecast Growth

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

NuScale Power Price Performance

The company has a market cap of $3.27 billion, a PE ratio of -15.95 and a beta of 1.25. The business has a 50-day moving average of $8.57 and a 200 day moving average of $5.63.

NuScale Power (NYSE:SMR) last posted 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 analysts’ expectations of $3.15 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same quarter in the prior year, the business earned ($0.16) earnings per share. On average, equities analysts predict that NuScale Power Co. will post -0.55 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction that occurred 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 sale, the general counsel now directly owns 19,054 shares in the company, valued at $115,657.78. The sale was disclosed in a document filed with the SEC, which is available at this link. In other NuScale Power 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 transaction of $144,502.42. Following the transaction, the general counsel now directly owns 19,054 shares in the company, valued at approximately $115,657.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clayton Scott sold 7,191 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the sale, the insider now directly owns 43,549 shares in the company, valued at approximately $263,035.96. The disclosure for this sale can be found here. Insiders sold 56,131 shares of company stock valued at $339,745 in the last ninety days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the stock. Swedbank AB purchased a new stake in NuScale Power during the 1st quarter worth approximately $18,585,000. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power during the first quarter worth $1,328,000. Vanguard Group Inc. increased its position in shares of NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after acquiring an additional 204,505 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after buying an additional 172,408 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in NuScale Power in the fourth quarter valued at $417,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.