NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume

NuScale Power Co. (NYSE:SMR) shares saw an uptick in trading volume on Thursday . 5,186,368 shares changed hands during trading, an increase of 16% from the previous session’s volume of 4,475,221 shares.The stock last traded at $9.34 and had previously closed at $9.54.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SMR. UBS Group raised their target price on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group lifted their price target on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.75.

NuScale Power Stock Up 5.0 %

The stock has a 50 day moving average of $6.96 and a two-hundred day moving average of $4.85.

NuScale Power (NYSE:SMR) last released 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). NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. The company had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $3.15 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. As a group, research analysts anticipate that NuScale Power Co. will post -0.64 EPS for the current year.

Insider Transactions at NuScale Power

In other news, General Counsel Robert K. Temple sold 23,806 shares of the business’s stock in a transaction 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 completion of the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 15,776 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $95,287.04. Following the completion of the sale, the chief technology officer now directly owns 478,306 shares in the company, valued at $2,888,968.24. 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 company’s stock in a transaction dated 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 owns 19,054 shares of the company’s stock, valued at $115,657.78. The disclosure for this sale can be found here. Insiders sold a total of 56,131 shares of company stock valued at $339,745 over the last three months. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Swedbank AB acquired a new stake in NuScale Power during the first quarter worth about $18,585,000. FMR LLC boosted its position in shares of NuScale Power by 11.2% in the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after buying an additional 301,548 shares during the period. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the first quarter worth about $1,328,000. Vanguard Group Inc. boosted its position in shares of NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after buying an additional 204,505 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 worth $11,159,000 after buying an additional 172,408 shares during the period. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.