NuScale Power (NYSE:SMR) Sees Strong Trading Volume on Analyst Upgrade

NuScale Power Co. (NYSE:SMR) saw unusually-high trading volume on Friday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. Approximately 8,100,793 shares changed hands during trading, an increase of 52% from the previous session’s volume of 5,323,906 shares.The stock last traded at $19.41 and had previously closed at $18.02.

Other analysts have also issued reports about the stock. CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. B. Riley upped their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $10.39.

Insider Activity

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on 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 in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total value of $1,576,434.30. Following the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock worth $6,287,356 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently made changes to their positions in the company. CWM LLC lifted its stake in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power during the second quarter worth $64,000. TFC Financial Management Inc. bought a new position in NuScale Power during the second quarter valued at about $75,000. Fortitude Family Office LLC acquired a new stake in shares of NuScale Power in the second quarter worth about $98,000. Finally, Quest Partners LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth about $115,000. Institutional investors own 15.28% of the company’s stock.

NuScale Power Stock Performance

The stock has a fifty day moving average price of $10.55 and a 200 day moving average price of $9.23. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of -21.42 and a beta of 1.25.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period in the prior year, the business earned ($0.13) EPS.

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.