NuScale Power (NYSE:SMR) Trading 4.5% Higher - What's Next?

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares traded up 4.5% during mid-day trading on Thursday . The stock traded as high as $50.70 and last traded at $50.01. 4,722,764 shares changed hands during mid-day trading, a decline of 58% from the average session volume of 11,308,257 shares. The stock had previously closed at $47.85.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. BNP Paribas Exane initiated coverage on NuScale Power in a research report on Friday. They issued a "neutral" rating and a $41.00 price objective for the company. Northland Securities initiated coverage on NuScale Power in a research report on Monday, July 7th. They set a "market perform" rating and a $35.00 target price for the company. Northland Capmk upgraded NuScale Power to a "hold" rating in a research report on Monday, July 7th. Citigroup initiated coverage on NuScale Power in a research report on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price for the company. Finally, CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Seven research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $33.00.

NuScale Power Stock Up 0.4%

The stock has a 50 day moving average price of $36.87 and a two-hundred day moving average price of $25.02. The company has a market cap of $14.57 billion, a P/E ratio of -37.14 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last posted 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 firm had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. Equities analysts anticipate that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the firm's stock in a transaction 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 sale, the vice president owned 1,218 shares of the company's stock, valued at $20,632.92. This trade represents a 56.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power stock in a transaction dated 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. Insiders have sold a total of 95,278 shares of company stock valued at $1,786,990 in the last 90 days. 1.27% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Raymond James Financial Inc. bought a new stake in NuScale Power in the 4th quarter valued at about $2,755,000. PNC Financial Services Group Inc. increased its holdings in NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after purchasing an additional 3,576 shares in the last quarter. HighTower Advisors LLC increased its holdings in NuScale Power by 51.0% during the 4th quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after purchasing an additional 6,175 shares in the last quarter. Swiss National Bank increased its holdings in NuScale Power by 21.2% during the 4th quarter. Swiss National Bank now owns 167,700 shares of the company's stock worth $3,007,000 after purchasing an additional 29,300 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in NuScale Power by 6.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock worth $379,000 after purchasing an additional 1,314 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

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.