NuScale Power (NYSE:SMR) Trading 17.1% Higher - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price shot up 17.1% during trading on Wednesday . The stock traded as high as $41.73 and last traded at $40.45. 14,442,763 shares traded hands during mid-day trading, an increase of 34% from the average session volume of 10,760,821 shares. The stock had previously closed at $34.55.

Analyst Ratings Changes

A number of research firms have weighed in on SMR. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. UBS Group boosted their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the company a "neutral" rating in a report on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, CLSA set a $41.00 target price on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $27.00.

NuScale Power Stock Performance

The firm's fifty day moving average is $23.10 and its 200-day moving average is $21.37. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $11.03 billion, a PE ratio of -40.83 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. As a group, research analysts anticipate that NuScale Power Co. will post -0.73 earnings per share for the current year.

Insider Activity

In other NuScale Power news, CEO John Lawrence Hopkins sold 34,675 shares of the firm's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the transaction, the chief executive officer now owns 49,019 shares of the company's stock, valued at $833,323. This trade represents a 41.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the company's stock in a transaction on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the sale, the vice president now directly owns 1,218 shares in the company, valued at $20,632.92. This represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,278 shares of company stock valued at $2,286,280. 1.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. Janney Montgomery Scott LLC acquired a new stake in NuScale Power in the 4th quarter valued at about $202,000. Allspring Global Investments Holdings LLC raised its stake in NuScale Power by 467.8% in the fourth 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 in the last quarter. Van ECK Associates Corp lifted its holdings in NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock worth $31,317,000 after buying an additional 511,168 shares during the last quarter. Rhumbline Advisers lifted its holdings in NuScale Power by 9.3% during the 4th quarter. Rhumbline Advisers now owns 111,404 shares of the company's stock worth $1,997,000 after buying an additional 9,485 shares during the last quarter. Finally, Allworth Financial LP boosted its position in shares of NuScale Power by 781.5% during the 4th quarter. Allworth Financial LP now owns 8,815 shares of the company's stock worth $158,000 after acquiring an additional 7,815 shares in the last quarter. 78.37% of the stock is currently 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.