NuScale Power (NYSE:SMR) Trading Up 0.8%

NuScale Power Co. (NYSE:SMR)’s stock price was up 0.8% during trading on Thursday . The stock traded as high as $9.65 and last traded at $9.24. Approximately 1,030,719 shares changed hands during trading, a decline of 78% from the average daily volume of 4,764,033 shares. The stock had previously closed at $9.17.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. B. Riley raised their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $8.63.

NuScale Power Stock Up 11.4 %

The company has a market cap of $2.60 billion, a PE ratio of -12.60 and a beta of 1.22. The business has a fifty day simple moving average of $9.62 and a two-hundred day simple moving average of $8.12. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share 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 analyst estimates of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. As a group, equities research analysts predict that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $134,496.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. The disclosure for this sale can be found here. In the last quarter, insiders sold 86,544 shares of company stock worth $809,536. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently bought and sold shares of SMR. Truist Financial Corp purchased a new position in shares of NuScale Power during the 2nd quarter worth approximately $177,000. Susquehanna Fundamental Investments LLC purchased a new position in NuScale Power in the second quarter worth $419,000. The Manufacturers Life Insurance Company lifted its holdings in NuScale Power by 37.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock valued at $345,000 after acquiring an additional 8,096 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of NuScale Power during the 2nd quarter worth $783,000. Finally, Sei Investments Co. acquired a new position in shares of NuScale Power during the 2nd quarter worth $520,000. Hedge funds and other institutional investors own 15.28% of the company’s stock.

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.