NuScale Power (NYSE:SMR) Stock Price Up 7.7% - Here's Why

Key Points

• NuScale Power's stock price increased by 7.7% to $39.45, with nearly 18.6 million shares traded, reflecting a 49% rise in trading volume.
• Analysts have set various price targets for NuScale Power, with Barclays rating it as "equal weight" with a target of $45.00 and Citigroup giving it a "neutral" rating at $46.00.
• The company's recent earnings report disclosed a loss of ($0.13) per share and revenue of $8.05 million, both of which fell short of analysts' expectations.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares rose 7.7% on Thursday . The stock traded as high as $39.59 and last traded at $39.45. Approximately 18,608,784 shares traded hands during mid-day trading, an increase of 49% from the average daily volume of 12,486,032 shares. The stock had previously closed at $36.61.

Analysts Set New Price Targets

SMR has been the topic of several research reports. Barclays initiated coverage on shares of NuScale Power in a research report on Monday. They issued an "equal weight" rating and a $45.00 price target on the stock. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a research report on Friday, July 25th. Citigroup started coverage on shares of NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 price objective for the company. Royal Bank Of Canada started coverage on shares of NuScale Power in a research note on Monday, September 15th. They set a "sector perform" rating and a $35.00 price objective for the company. Finally, UBS Group lifted their price objective on shares of NuScale Power from $34.00 to $38.00 and gave the stock a "neutral" rating in a research note on Monday, August 11th. Three analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $36.67.

NuScale Power Stock Up 7.7%

The stock has a market capitalization of $11.24 billion, a PE ratio of -33.15 and a beta of 2.02. The stock's 50 day moving average price is $39.34 and its 200-day moving average price is $31.16.

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

Insider Activity

In other news, Director Corp Fluor sold 532,354 shares of the business's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $36.52, for a total transaction of $19,441,568.08. Following the completion of the sale, the director directly owned 3,424,278 shares of the company's stock, valued at approximately $125,054,632.56. The trade was a 13.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 11,624,569 shares of company stock worth $468,599,880 over the last ninety days. 1.27% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Infini Capital Management Ltd purchased a new stake in NuScale Power in the second quarter worth about $989,000. Orion Porfolio Solutions LLC lifted its stake in NuScale Power by 9.4% in the second quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company's stock worth $1,292,000 after acquiring an additional 2,798 shares during the period. Marex Group plc purchased a new stake in NuScale Power in the second quarter worth about $717,000. Delos Wealth Advisors LLC purchased a new stake in NuScale Power in the second quarter worth about $51,000. Finally, FORA Capital LLC purchased a new stake in NuScale Power in the second quarter worth about $5,549,000. 78.37% of the stock is owned by hedge funds and other 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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