NuScale Power (NYSE:SMR) Stock Price Up 1.3% - What's Next?

Key Points

• NuScale Power's stock increased by 1.3% on Friday, reaching a last trade price of $40.03, with a trading volume significantly higher than its average daily volume.
• Analysts have varied opinions on the stock, with three rating it as a Buy, ten as a Hold, and two as a Sell, creating a consensus rating of "Hold" with a price target of $36.67.
• Significant insider selling was reported, with a Director selling over 2.37 million shares recently, indicating a potential shift in investor confidence.

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) rose 1.3% during trading on Friday . The stock traded as high as $41.25 and last traded at $40.03. Approximately 17,417,516 shares were traded during mid-day trading, an increase of 39% from the average daily volume of 12,512,855 shares. The stock had previously closed at $39.51.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Northland Securities began coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target on the stock. Bank of America restated an "underperform" rating and issued a $34.00 target price (down from $38.00) on shares of NuScale Power in a research note on Tuesday. Northland Capmk upgraded NuScale Power to a "hold" rating in a research note on Monday, July 7th. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, Canaccord Genuity Group boosted their price target on shares of NuScale Power from $44.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, NuScale Power currently has a consensus rating of "Hold" and a consensus price target of $36.67.

NuScale Power Trading Up 1.3%

The stock's fifty day moving average is $38.88 and its two-hundred day moving average is $31.47. The firm has a market cap of $11.40 billion, a P/E ratio of -33.64 and a beta of 2.02.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million for the quarter, compared to the consensus estimate 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, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other NuScale Power news, Director Corp Fluor sold 2,372,563 shares of the company's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares in the company, valued at $443,654,282.56. This represents a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 11,624,569 shares of company stock valued at $468,599,880. 1.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after purchasing an additional 1,705,411 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the last quarter. Bank of America Corp DE grew its holdings in shares of NuScale Power by 80.9% during the 2nd quarter. Bank of America Corp DE now owns 2,333,248 shares of the company's stock valued at $92,303,000 after purchasing an additional 1,043,676 shares during the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the 1st quarter valued at $14,271,000. Finally, Man Group plc bought a new position in shares of NuScale Power during the 2nd quarter valued at $33,877,000. 78.37% of the stock is currently owned by institutional investors.

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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