NuScale Power Corporation (NYSE:SMR - Get Free Report) rose 3.7% during mid-day trading on Wednesday . The company traded as high as $44.38 and last traded at $44.56. Approximately 4,658,453 shares traded hands during trading, a decline of 53% from the average daily volume of 9,961,474 shares. The stock had previously closed at $42.98.
Wall Street Analysts Forecast Growth
SMR has been the subject of a number of research reports. Northland Securities initiated coverage on shares of NuScale Power in a research note on Monday, July 7th. They set a "market perform" rating and a $35.00 target price for the company. UBS Group raised their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, 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 note on Tuesday, May 20th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $32.00.
Check Out Our Latest Stock Analysis on NuScale Power
NuScale Power Stock Performance
The stock has a market capitalization of $14.31 billion, a P/E ratio of -36.62 and a beta of 2.04. The firm's fifty day simple moving average is $34.16 and its 200 day simple moving average is $24.05.
NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. Analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.
Insider Activity at NuScale Power
In other news, 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 value of $623,322.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total transaction of $26,511.10. Following the completion of the transaction, the vice president owned 1,218 shares in the company, valued at $20,632.92. This trade represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 95,278 shares of company stock valued at $1,786,990 in the last 90 days. 1.27% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. raised its holdings in NuScale Power by 84.5% during the second 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. Toth Financial Advisory Corp grew its stake in shares of NuScale Power by 185.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 1,710 shares of the company's stock worth $68,000 after acquiring an additional 1,110 shares in the last quarter. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of NuScale Power in the 2nd quarter worth $69,000. CoreCap Advisors LLC bought a new stake in shares of NuScale Power in the 4th quarter worth $33,000. Finally, Quantbot Technologies LP purchased a new position in NuScale Power in the first quarter worth $27,000. Institutional investors and hedge funds own 78.37% of the company's stock.
NuScale Power Company Profile
(
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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