NuScale Power (NYSE:SMR) Trading 2.5% Higher - Here's Why

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) were up 2.5% during mid-day trading on Friday . The company traded as high as $37.75 and last traded at $36.93. Approximately 3,796,655 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 9,886,238 shares. The stock had previously closed at $36.02.

Analyst Ratings Changes

Several equities analysts recently commented on SMR shares. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research report on Tuesday, May 20th. 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. BTIG Research lowered shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday, June 25th. UBS Group lifted their price target on shares of NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Finally, Northland Securities initiated coverage on shares of NuScale Power in a report on Monday. They set a "market perform" rating and a $35.00 price objective for the company. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $32.00.

NuScale Power Price Performance

The company has a market cap of $10.37 billion, a price-to-earnings ratio of -26.58 and a beta of 2.04. The stock has a 50-day moving average price of $31.56 and a 200 day moving average price of $23.26.

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

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the 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 owned 1,218 shares in the company, valued at approximately $20,632.92. This represents a 56.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were 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. Insiders have sold a total of 95,278 shares of company stock worth $1,786,990 in the last 90 days. Corporate insiders own 1.27% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Thurston Springer Miller Herd & Titak Inc. grew its stake in NuScale Power by 84.5% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company's stock valued at $31,000 after buying an additional 359 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after acquiring an additional 656 shares during the period. Deutsche Bank AG grew its position in shares of NuScale Power by 0.9% in the first quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock valued at $1,077,000 after purchasing an additional 686 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after purchasing an additional 833 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its stake in shares of NuScale Power by 16.6% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock worth $159,000 after purchasing an additional 1,260 shares during the period. 78.37% of the stock is currently owned by institutional investors and hedge funds.

NuScale Power Company Profile

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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