NuScale Power (NYSE:SMR) Stock Price Up 7.4% - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares were up 7.4% during mid-day trading on Friday . The stock traded as high as $33.35 and last traded at $33.34. Approximately 4,848,962 shares changed hands during mid-day trading, a decline of 47% from the average daily volume of 9,188,339 shares. The stock had previously closed at $31.05.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SMR shares. BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group boosted their target price on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. 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. 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. Finally, Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

NuScale Power Trading Up 10.8%

The stock has a 50-day simple moving average of $20.67 and a two-hundred day simple moving average of $21.01. The firm has a market cap of $9.78 billion, a PE ratio of -36.21 and a beta of 2.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

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

Insider Buying and Selling at NuScale Power

In related news, CEO John Lawrence Hopkins sold 34,675 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the completion of the transaction, the chief executive officer now directly owns 49,019 shares in the company, valued at approximately $833,323. The trade was a 41.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares of the company's stock, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,278 shares of company stock worth $2,286,280 in the last three months. 1.27% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMR. Samsung C&T Corp bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after acquiring an additional 1,705,411 shares during the period. Arrowstreet Capital Limited Partnership bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of NuScale Power by 20.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the 1st quarter valued at approximately $14,271,000. 78.37% of the stock is currently 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.