NuScale Power (NYSE:SMR) Reaches New 1-Year High - Here's Why

Key Points

• NuScale Power Corporation shares have reached a new 52-week high, trading at $53.39 before settling at $51.15, marking a significant increase in trading volume.
• Research analysts maintain a consensus rating of "Hold" on NuScale Power, with an average target price of $32.00 and various ratings ranging from "buy" to "neutral."
• Insider trading reports indicate significant selling activity, with CEO John Lawrence Hopkins selling over 26,000 shares, while hedge funds hold 78.37% of the company's stock.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $53.39 and last traded at $51.15, with a volume of 17621548 shares traded. The stock had previously closed at $47.85.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. Northland Securities initiated coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 target price for the company. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. Finally, BNP Paribas Exane initiated coverage on shares of NuScale Power in a research report on Friday. They set a "neutral" rating and a $41.00 target price for the company. Seven analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, NuScale Power presently has a consensus rating of "Hold" and an average price target of $33.00.

NuScale Power Stock Performance

The stock's 50-day moving average is $37.42 and its 200 day moving average is $25.23. The firm has a market cap of $14.70 billion, a P/E ratio of -37.73 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, research analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 34,675 shares of the company's stock in a transaction on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the transaction, the chief executive officer directly owned 49,019 shares of the company's stock, valued at approximately $833,323. This represents a 41.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the completion of the transaction, the insider directly owned 86,965 shares of the company's stock, valued at approximately $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,278 shares of company stock valued at $1,786,990. Company insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock worth $31,000 after buying an additional 359 shares during the last quarter. Union Bancaire Privee UBP SA grew its holdings in NuScale Power by 9.1% during the second quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock worth $182,000 after purchasing an additional 386 shares during the period. Albion Financial Group UT grew its holdings in NuScale Power by 26.2% during the second quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after purchasing an additional 425 shares during the period. IFP Advisors Inc grew its holdings in NuScale Power by 55.7% during the second quarter. IFP Advisors Inc now owns 1,745 shares of the company's stock worth $69,000 after purchasing an additional 624 shares during the period. Finally, Deutsche Bank AG grew its holdings in NuScale Power by 0.9% during the first quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock worth $1,077,000 after purchasing an additional 686 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.