Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $34.55, but opened at $35.66. NuScale Power shares last traded at $40.36, with a volume of 5,674,239 shares.
Wall Street Analysts Forecast Growth
SMR has been the subject of a number of research reports. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. UBS Group raised their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" 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 stock a "neutral" rating in a research report on Tuesday, May 20th. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $27.00.
Check Out Our Latest Analysis on NuScale Power
NuScale Power Price Performance
The firm has a market capitalization of $11.46 billion, a price-to-earnings ratio of -42.41 and a beta of 2.00. 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's fifty day moving average is $22.07 and its two-hundred day moving average is $21.20.
NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The company had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. Equities research analysts anticipate that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares of the company's stock, valued at $7,810,211.91. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,278 shares of company stock worth $2,286,280. Insiders own 1.27% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kaizen Financial Strategies bought a new position in shares of NuScale Power during the 1st quarter valued at about $204,000. Raymond James Financial Inc. acquired a new stake in NuScale Power during the 4th quarter worth approximately $2,755,000. Allspring Global Investments Holdings LLC lifted its stake in NuScale Power by 467.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company's stock valued at $1,537,000 after buying an additional 70,638 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of NuScale Power by 51.0% in the fourth quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock valued at $328,000 after buying an additional 6,175 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of NuScale Power by 2,980.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after acquiring an additional 3,576 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.
About NuScale Power
(
Get Free Report)
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.
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