NuScale Power (NYSE:SMR) Sees Large Volume Increase – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares saw an uptick in trading volume on Friday . 3,838,849 shares traded hands during mid-day trading, a decline of 32% from the previous session’s volume of 5,625,464 shares.The stock last traded at $18.93 and had previously closed at $18.39.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SMR shares. Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

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 capitalization of $4.47 billion, a PE ratio of -21.66 and a beta of 1.25. The firm’s fifty day moving average price is $11.43 and its 200 day moving average price is $9.68.

NuScale Power (NYSE:SMR) last issued its 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). 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 quarter last year, the firm earned ($0.13) EPS.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares in the company, valued at $190,540. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now directly owns 19,054 shares in the company, valued at $190,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,595 shares of company stock worth $6,287,356. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the company. Avantax Advisory Services Inc. acquired a new stake in shares of NuScale Power in the first quarter valued at about $58,000. SG Americas Securities LLC grew its position in NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after buying an additional 39,171 shares in the last quarter. Van ECK Associates Corp bought a new position in NuScale Power during the second quarter valued at about $7,600,000. Brookstone Capital Management acquired a new position in NuScale Power in the 2nd quarter valued at approximately $126,000. Finally, Truist Financial Corp bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $177,000. 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.