NuScale Power (NYSE:SMR) Stock Price Up 2.4% - Here's What Happened

Key Points

• NuScale Power's stock saw a 2.4% increase, trading at $44.41, after reaching a high of $48.56 during the session, although overall trading volume was down by 32% compared to its average.
• Research analysts have mixed views on NuScale Power, with ratings ranging from "hold" to "neutral," and an average price target of $33.00.
• Insider trading activity included CEO John Lawrence Hopkins selling over 26,000 shares, and institutional investors currently hold 78.37% of the stock.

NuScale Power Corporation (NYSE:SMR - Get Free Report) rose 2.4% during trading on Tuesday . The stock traded as high as $48.56 and last traded at $44.41. Approximately 7,748,226 shares were traded during trading, a decline of 32% from the average daily volume of 11,466,090 shares. The stock had previously closed at $43.38.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company 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 research note on Wednesday, June 25th. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Finally, Northland Securities started coverage on NuScale Power in a research report on Monday, July 7th. They issued a "market perform" rating and a $35.00 price objective for the company. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $33.00.

NuScale Power Stock Up 3.9%

The company's fifty day moving average is $40.03 and its 200-day moving average is $26.47. The company has a market cap of $12.82 billion, a PE ratio of -32.95 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. Equities research analysts expect that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the stock. Harbour Investments Inc. lifted its position in shares of NuScale Power by 21.3% during the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company's stock worth $46,000 after buying an additional 203 shares during the last quarter. D.A. Davidson & CO. raised its position in NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company's stock worth $824,000 after buying an additional 212 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in NuScale Power by 84.5% during the 2nd 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. Union Bancaire Privee UBP SA raised its position in NuScale Power by 9.1% during the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company's stock worth $182,000 after buying an additional 386 shares during the last quarter. Finally, Albion Financial Group UT raised its position in NuScale Power by 26.2% during the 2nd quarter. Albion Financial Group UT now owns 2,045 shares of the company's stock worth $81,000 after buying an additional 425 shares during the last quarter. 78.37% of the stock is currently 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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