NuScale Power (NYSE:SMR) Reaches New 12-Month High After Analyst Upgrade

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price reached a new 52-week high on Wednesday after UBS Group raised their price target on the stock from $17.00 to $34.00. UBS Group currently has a neutral rating on the stock. NuScale Power traded as high as $35.77 and last traded at $35.65, with a volume of 34840139 shares changing hands. The stock had previously closed at $30.24.

A number of other equities analysts have also commented on SMR. CLSA set a $41.00 price target on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a report on Thursday. The Goldman Sachs Group set a $24.00 price target on shares of NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Finally, BTIG Research reissued a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 34,675 shares of the stock in a transaction dated 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 now owns 49,019 shares of the company's stock, valued at approximately $833,323. This represents a 41.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This trade represents a 95.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,392 shares of company stock worth $3,138,221 over the last three months. Corporate insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new position in NuScale Power during the 1st quarter worth approximately $27,000. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter valued at about $33,000. Venturi Wealth Management LLC boosted its position in shares of NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after purchasing an additional 1,500 shares in the last quarter. Twin Tree Management LP bought a new stake in NuScale Power in the fourth quarter worth approximately $42,000. Finally, NBC Securities Inc. increased its holdings in NuScale Power by 165,450.0% in the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock worth $46,000 after purchasing an additional 3,309 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Stock Performance

The stock has a market capitalization of $9.15 billion, a price-to-earnings ratio of -33.85 and a beta of 1.62. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a 50 day simple moving average of $19.00 and a 200-day simple moving average of $20.78.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $13.38 million during the quarter, compared to analysts' expectations of $1.46 million. As a group, equities research analysts expect that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

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.