NuScale Power (NYSE:SMR) Trading 2.2% Higher - Here's What Happened

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) traded up 2.2% during trading on Friday . The stock traded as high as $36.46 and last traded at $35.98. 5,842,801 shares changed hands during trading, a decline of 41% from the average session volume of 9,896,380 shares. The stock had previously closed at $35.21.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. 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 report on Thursday, May 29th. CLSA set a $41.00 price objective on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. Finally, Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $31.57.

NuScale Power Stock Performance

The firm's 50 day simple moving average is $30.05 and its 200-day simple moving average is $22.80. The company has a market capitalization of $10.23 billion, a price-to-earnings ratio of -26.26 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last issued 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. The business had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. As a group, equities analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider owned 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 Securities & Exchange Commission, which is available at this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the sale, the chief executive officer owned 49,019 shares of the company's stock, valued at approximately $833,323. This represents a 41.43% decrease in their ownership of the stock. 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 currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently made changes to their positions in SMR. Kaizen Financial Strategies acquired a new stake in shares of NuScale Power in the 1st quarter valued at $204,000. Raymond James Financial Inc. bought a new stake in NuScale Power in the 4th quarter valued at $2,755,000. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NuScale Power by 31.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 193,098 shares of the company's stock valued at $2,734,000 after buying an additional 46,744 shares during the period. HighTower Advisors LLC lifted its stake 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. grew its position in 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 buying an additional 3,576 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

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.