NuScale Power (NYSE:SMR) Trading 4.4% Higher – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s share price rose 4.4% during mid-day trading on Friday . The stock traded as high as $12.89 and last traded at $12.53. Approximately 1,891,754 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 5,003,100 shares. The stock had previously closed at $12.00.

Analyst Ratings Changes

SMR has been the subject of several analyst reports. Craig Hallum initiated coverage on shares of NuScale Power in a report on Thursday, September 26th. They issued a “buy” rating and a $16.00 target price for the company. B. Riley raised 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, CLSA initiated coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Stock Up 11.3 %

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market cap of $3.25 billion, a PE ratio of -14.74 and a beta of 1.25. The business’s 50-day simple moving average is $9.67 and its 200 day simple moving average is $8.77.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period last year, the business posted ($0.13) EPS.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $182,983.08. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Robert K. Temple sold 75,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $168,648. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $182,983.08. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 374,729 shares of company stock valued at $4,178,595. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently bought and sold shares of SMR. Swedbank AB acquired a new stake in NuScale Power in the 1st quarter worth approximately $18,585,000. Van ECK Associates Corp acquired a new stake in NuScale Power during the 2nd quarter valued at approximately $7,600,000. Rheos Capital Works Inc. acquired a new stake in NuScale Power during the 1st quarter valued at approximately $1,328,000. Bank of New York Mellon Corp lifted its stake 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 valued at $3,256,000 after acquiring an additional 137,382 shares during the period. Finally, SG Americas Securities LLC lifted its stake in NuScale Power by 244.7% during the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after acquiring an additional 131,570 shares during the period. 15.28% of the stock is currently 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.