NuScale Power (NYSE:SMR) Stock Price Up 9.7% on Analyst Upgrade

Shares of NuScale Power Co. (NYSE:SMR) rose 9.7% during trading 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. NuScale Power traded as high as $19.88 and last traded at $19.77. Approximately 9,743,771 shares were traded during trading, an increase of 82% from the average daily volume of 5,340,916 shares. The stock had previously closed at $18.02.

A number of other analysts have also recently commented on SMR. CLSA assumed coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 490,595 shares of company stock worth $6,287,356 in the last three months. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SMR. CWM LLC increased its holdings in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new stake in NuScale Power during the second quarter worth approximately $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power during the second quarter valued at approximately $75,000. Fortitude Family Office LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $98,000. Finally, Quest Partners LLC purchased a new position in shares of NuScale Power in the 2nd quarter worth approximately $115,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Stock Up 1.1 %

The company has a market cap of $4.43 billion, a PE ratio of -21.42 and a beta of 1.25. The company has a fifty day moving average of $10.55 and a two-hundred day moving average of $9.23. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

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