NuScale Power (NYSE:SMR) Trading Up 1.7% - Here's Why

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s share price traded up 1.7% on Monday . The stock traded as high as $39.58 and last traded at $37.85. 5,459,153 shares were traded during trading, a decline of 43% from the average session volume of 9,661,832 shares. The stock had previously closed at $37.20.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. BTIG Research reiterated a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Citigroup started coverage on shares of NuScale Power in a research report on Monday. They set a "neutral" rating and a $46.00 price objective on the stock. CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. UBS Group raised 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. Finally, Canaccord Genuity Group set a $35.00 price objective on shares of NuScale Power and gave the company a "buy" rating in a research report on Thursday, May 29th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, NuScale Power has an average rating of "Moderate Buy" and an average price target of $29.38.

NuScale Power Stock Performance

The company has a market capitalization of $10.39 billion, a P/E ratio of -26.73 and a beta of 1.99. The business's fifty day simple moving average is $25.52 and its 200-day simple moving average is $21.74.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.46 million. As a group, analysts forecast that NuScale Power Corporation will post -0.73 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 1,565 shares of the business's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the completion of the sale, the vice president now directly owns 1,218 shares of the company's stock, valued at approximately $20,632.92. This trade represents a 56.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,278 shares of company stock valued at $2,286,280. Company insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently modified their holdings of SMR. Samsung C&T Corp bought a new position in shares of NuScale Power during the 4th quarter worth approximately $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised 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 worth $26,127,000 after acquiring an additional 1,705,411 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new position in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 worth $96,880,000 after acquiring an additional 1,153,158 shares in the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the 1st quarter worth approximately $14,271,000. Institutional investors own 78.37% of the company's stock.

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.

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