NuScale Power (NYSE:SMR) Shares Up 14.3% - Here's What Happened

Key Points

• NuScale Power's shares increased by 14.3% during mid-day trading, reaching a peak of $46.40 and trading at $44.84, which is a significant jump from the previous close of $39.24.
• Research analyst ratings for NuScale Power show a consensus of "Hold." The average target price is currently set at $36.67.
• Insider selling activity included the sale of over 2.3 million shares by Director Corp Fluor, indicating a 19.04% decrease in their ownership of the stock.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares shot up 14.3% during mid-day trading on Monday . The company traded as high as $46.40 and last traded at $44.84. 29,818,742 shares were traded during mid-day trading, an increase of 132% from the average session volume of 12,854,636 shares. The stock had previously closed at $39.24.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SMR. Weiss Ratings restated a "sell (e+)" rating on shares of NuScale Power in a report on Wednesday, October 8th. UBS Group increased their price objective on NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a report on Monday, August 11th. BNP Paribas upgraded NuScale Power to a "hold" rating in a report on Friday, July 25th. Northland Securities initiated coverage on NuScale Power in a report on Monday, July 7th. They set a "market perform" rating and a $35.00 price objective for the company. Finally, Barclays initiated coverage on NuScale Power in a report on Monday, September 29th. They set an "equal weight" rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, NuScale Power has a consensus rating of "Hold" and an average target price of $36.67.

NuScale Power Stock Up 14.3%

The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of -37.68 and a beta of 2.02. The company's 50-day simple moving average is $37.96 and its 200 day simple moving average is $32.42.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.01). The business had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a positive return on equity of 2.61% and a negative net margin of 221.07%. On average, equities analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company's stock, valued at $443,654,282.56. This represents a 19.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 15,048,847 shares of company stock worth $606,761,579 over the last 90 days. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Quantbot Technologies LP acquired a new stake in shares of NuScale Power in the first quarter valued at about $27,000. Thurston Springer Miller Herd & Titak Inc. grew its position in shares of NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after purchasing an additional 359 shares during the last quarter. Rothschild Investment LLC grew its position in shares of NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company's stock valued at $45,000 after purchasing an additional 350 shares during the last quarter. Harbour Investments Inc. grew its position in shares of NuScale Power by 21.3% in the second quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock valued at $46,000 after purchasing an additional 203 shares during the last quarter. Finally, Stone House Investment Management LLC acquired a new stake in shares of NuScale Power in the first quarter valued at about $50,000. 78.37% of the stock is 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.

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