NuScale Power (NYSE:SMR) Reaches New 52-Week High – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $24.23 and last traded at $23.66, with a volume of 5242551 shares. The stock had previously closed at $21.67.

Analysts Set New Price Targets

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

NuScale Power Stock Up 13.0 %

The firm has a market capitalization of $6.10 billion, a P/E ratio of -23.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The business’s fifty day moving average price is $13.87 and its two-hundred day moving average price is $10.77.

NuScale Power (NYSE:SMR) last released 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 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 quarter in the prior year, the business posted ($0.13) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the firm’s 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 completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $182,983.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 478,293 shares of company stock valued at $6,179,222. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in SMR. SG Americas Securities LLC grew its holdings in shares of 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. Avantax Advisory Services Inc. purchased a new stake in shares of NuScale Power during the first quarter worth $58,000. Resurgent Financial Advisors LLC grew its holdings in shares of NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after buying an additional 7,400 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after buying an additional 4,014 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NuScale Power during the first quarter worth $98,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.