NuScale Power Corporation (NYSE:SMR - Get Free Report) shares were up 1.9% on Wednesday . The stock traded as high as $40.77 and last traded at $39.98. Approximately 4,140,286 shares changed hands during mid-day trading, a decline of 62% from the average daily volume of 11,028,947 shares. The stock had previously closed at $39.24.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on SMR shares. The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. BTIG Research reissued a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group increased their price target on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of "Moderate Buy" and a consensus target price of $27.00.
Read Our Latest Stock Analysis on SMR
NuScale Power Price Performance
The firm has a market cap of $11.13 billion, a price-to-earnings ratio of -28.58 and a beta of 2.00. The business's 50-day moving average price is $24.59 and its two-hundred day moving average price is $21.61.
NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate 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 company had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million. Equities analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the firm'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 sale, the chief technology officer now owns 516,207 shares in the company, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of NuScale Power 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 128,278 shares of company stock valued at $2,286,280 over the last quarter. Insiders own 1.27% of the company's stock.
Hedge Funds Weigh In On NuScale Power
Several hedge funds have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the 1st quarter worth approximately $27,000. CoreCap Advisors LLC purchased a new position in shares of NuScale Power during the 4th quarter valued at $33,000. Venturi Wealth Management LLC increased its position in NuScale Power by 313.8% in the 4th 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 during the last quarter. Twin Tree Management LP acquired a new stake in NuScale Power in the fourth quarter valued at approximately $42,000. Finally, NBC Securities Inc. raised its holdings in shares of NuScale Power by 165,450.0% during the 1st 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. 78.37% of the stock is currently owned by institutional investors and hedge funds.
NuScale Power Company Profile
(
Get Free Report)
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.
Featured Stories
Before you consider NuScale Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NuScale Power wasn't on the list.
While NuScale Power currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
