NuScale Power (NYSE:SMR) Shares Up 10.1% - Here's Why

Shares of NuScale Power Corporation (NYSE:SMR - Get Free Report) shot up 10.1% on Tuesday . The stock traded as high as $42.47 and last traded at $40.18. 10,138,983 shares traded hands during mid-day trading, an increase of 5% from the average session volume of 9,694,396 shares. The stock had previously closed at $36.50.

Analyst Ratings Changes

Several research analysts recently commented on SMR shares. CLSA set a $41.00 price target on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday, May 27th. UBS Group boosted their price objective 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. BTIG Research cut shares of NuScale Power from a "buy" rating to a "neutral" rating in a report on Wednesday. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $29.38.

NuScale Power Stock Performance

The firm has a 50 day simple moving average of $26.99 and a two-hundred day simple moving average of $22.08. The stock has a market cap of $11.01 billion, a P/E ratio of -28.25 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last announced its 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. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. The firm had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 1,565 shares of NuScale Power 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 approximately $20,632.92. This trade represents a 56.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,278 shares of company stock worth $2,286,280 over the last ninety days. Company insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in NuScale Power during the 1st quarter worth approximately $27,000. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power in the fourth quarter worth approximately $33,000. Venturi Wealth Management LLC lifted its position in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Twin Tree Management LP acquired a new stake in shares of NuScale Power during the fourth quarter worth approximately $42,000. Finally, NBC Securities Inc. grew its position in NuScale Power by 165,450.0% during the first quarter. NBC Securities Inc. now owns 3,311 shares of the company's stock valued at $46,000 after purchasing an additional 3,309 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.

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.