NuScale Power (NYSE:SMR) Trading Up 6.5%

NuScale Power Co. (NYSE:SMR) was up 6.5% during mid-day trading on Monday . The stock traded as high as $8.85 and last traded at $8.72. Approximately 838,693 shares traded hands during trading, a decline of 81% from the average daily volume of 4,419,421 shares. The stock had previously closed at $8.19.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. UBS Group raised their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group raised their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $7.75.

NuScale Power Price Performance

The firm’s 50-day simple moving average is $6.72 and its two-hundred day simple moving average is $4.73.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.21). The business had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same period in the previous year, the firm posted ($0.16) earnings per share. Equities research analysts forecast that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Robert K. Temple sold 23,806 shares of the 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 owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,899 shares of company stock worth $590,771. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of NuScale Power in the first quarter valued at about $18,585,000. Virtu Financial LLC bought a new position in shares of NuScale Power in the first quarter valued at about $98,000. Price T Rowe Associates Inc. MD raised its position in shares of NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after purchasing an additional 4,014 shares during the period. Resurgent Financial Advisors LLC raised its position in shares of NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after purchasing an additional 7,400 shares during the period. Finally, Avantax Advisory Services Inc. bought a new position in shares of NuScale Power in the first quarter valued at about $58,000. 15.28% of the stock is owned by institutional investors.

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.