NuScale Power Sees Unusually High Options Volume (NYSE:SMR)

NuScale Power Co. (NYSE:SMR) was the target of unusually large options trading activity on Wednesday. Traders purchased 7,707 call options on the company. This is an increase of approximately 27% compared to the typical volume of 6,088 call options.

Insiders Place Their Bets

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 shares were 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 owns 19,054 shares of the company’s stock, valued at $115,657.78. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now owns 19,054 shares of the company’s stock, valued at $115,657.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, General Counsel Robert K. Temple sold 8,873 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the transaction, the general counsel now directly owns 42,860 shares of the company’s stock, valued at approximately $258,874.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 56,131 shares of company stock valued at $339,745. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $25,000. Essex Private Wealth Management LLC acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $33,000. Mesirow Financial Investment Management Inc. acquired a new position in NuScale Power during the first quarter worth about $53,000. Sloy Dahl & Holst LLC acquired a new position in NuScale Power during the fourth quarter worth about $33,000. Finally, Arizona State Retirement System acquired a new position in NuScale Power during the fourth quarter worth about $34,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. UBS Group raised their target price 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 reissued an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. Finally, Canaccord Genuity Group raised their price target on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.75.

NuScale Power Stock Performance

SMR stock opened at $11.53 on Thursday. The firm has a market cap of $2.80 billion, a PE ratio of -13.56 and a beta of 1.17. The firm’s fifty day moving average is $7.41 and its 200 day moving average is $5.07. NuScale Power has a one year low of $1.81 and a one year high of $12.15.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.21). NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. The business had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. During the same quarter last year, the business earned ($0.16) earnings per share. Research analysts predict that NuScale Power will post -0.64 earnings per share for the current fiscal year.

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.