NuScale Power (NYSE:SMR) Shares Up 10.1% After Analyst Upgrade

NuScale Power Co. (NYSE:SMR - Get Free Report) traded up 10.1% on Tuesday after CLSA raised their price target on the stock from $31.00 to $41.00. CLSA currently has an outperform rating on the stock. NuScale Power traded as high as $33.49 and last traded at $33.30. 13,771,491 shares traded hands during trading, an increase of 55% from the average session volume of 8,882,044 shares. The stock had previously closed at $30.24.

A number of other equities research analysts have also recently commented on SMR. UBS Group decreased their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. Finally, The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.83.

Insider Buying and Selling at NuScale Power

In related news, 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 sale, the insider now directly owns 86,965 shares in the company, valued at $1,459,272.70. This represents a 10.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction on 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 of the company's stock, valued at $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 184,392 shares of company stock worth $3,138,221 over the last 90 days. Company insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Janney Montgomery Scott LLC purchased a new stake in shares of NuScale Power during the 4th quarter worth $202,000. Kingswood Wealth Advisors LLC acquired a new position in NuScale Power during the 4th quarter valued at about $265,000. Union Bancaire Privee UBP SA acquired a new position in NuScale Power during the 4th quarter valued at about $67,000. KBC Group NV acquired a new position in NuScale Power during the 4th quarter valued at about $70,000. Finally, Caprock Group LLC acquired a new position in NuScale Power during the 4th quarter valued at about $1,314,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Stock Up 16.4%

The company has a 50-day moving average of $17.75 and a 200-day moving average of $20.44. The company has a market capitalization of $10.01 billion, a price-to-earnings ratio of -37.09 and a beta of 1.62. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.46 million. On average, equities analysts predict that NuScale Power Co. will post -0.73 earnings per share 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.

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