NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price was up 13.2% on Monday . The stock traded as high as $45.31 and last traded at $43.94. Approximately 9,401,820 shares were traded during mid-day trading, a decline of 2% from the average daily volume of 9,563,175 shares. The stock had previously closed at $38.82.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on SMR shares. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. UBS Group upped their target price on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. CLSA set a $41.00 target price on NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.
Read Our Latest Research Report on NuScale Power
NuScale Power Trading Down 0.2%
The stock has a market cap of $11.13 billion, a price-to-earnings ratio of -28.58 and a beta of 2.00. The stock has a fifty day simple moving average of $25.08 and a 200-day simple moving average of $21.69.
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, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The company had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. Sell-side analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, VP Jacqueline F. Engel sold 1,565 shares of the firm'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 now owns 1,218 shares in the company, valued at $20,632.92. This trade represents a 56.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,278 shares of company stock worth $2,286,280. 1.27% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On NuScale Power
Several institutional investors have recently bought and sold shares of 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. acquired a new stake in shares of NuScale Power in the 4th quarter valued at $2,755,000. Allspring Global Investments Holdings LLC increased its stake in shares of NuScale Power by 467.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company's stock valued at $1,537,000 after buying an additional 70,638 shares during the period. HighTower Advisors LLC increased its stake in shares of NuScale Power by 51.0% in the 4th 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. increased its stake in shares of NuScale Power by 2,980.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after buying an additional 3,576 shares during the period. Institutional investors own 78.37% of the company's stock.
About NuScale Power
(
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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