NuScale Power (NYSE:SMR) Trading 7.1% Higher

NuScale Power Co. (NYSE:SMR)’s share price traded up 7.1% on Tuesday . The stock traded as high as $11.78 and last traded at $11.71. 1,480,855 shares were traded during trading, a decline of 68% from the average session volume of 4,634,713 shares. The stock had previously closed at $10.93.

Wall Street Analyst Weigh In

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

NuScale Power Stock Up 6.0 %

The stock has a 50-day moving average of $8.04 and a 200 day moving average of $5.35.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) EPS for the quarter, hitting 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 company had revenue of $1.38 million during the quarter, compared to analysts’ expectations of $3.15 million. During the same quarter in the previous year, the company earned ($0.16) EPS. Analysts anticipate that NuScale Power Co. will post -0.55 EPS for the current year.

Insiders Place Their Bets

In other news, 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 value 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the firm’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 $43,433.64. Following the transaction, the insider now owns 43,549 shares in the company, valued at $263,035.96. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of the company’s stock in a transaction dated 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 sale, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,131 shares of company stock valued at $339,745. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

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

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.