NuScale Power (NYSE:SMR) Stock Price Up 2.5% After Analyst Upgrade

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price traded up 2.5% during trading on Wednesday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. NuScale Power traded as high as $36.85 and last traded at $36.42. 11,757,041 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 8,973,810 shares. The stock had previously closed at $35.52.

SMR has been the subject of several other research reports. B. Riley increased their price objective on NuScale Power from $8.00 to $14.00 and gave the company a "buy" rating in a report on Thursday, June 27th. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $24.57.

Insider Buying and Selling at NuScale Power

In related news, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider now directly owns 86,965 shares of the company's stock, valued at $1,459,272.70. The trade was a 10.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business's stock in a transaction dated 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 a total of 184,392 shares of company stock worth $3,138,221 over the last 90 days. Insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Quantbot Technologies LP acquired a new position in shares of NuScale Power in the 1st quarter valued at about $27,000. CoreCap Advisors LLC acquired a new position in NuScale Power during the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC raised its stake in NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after buying an additional 1,500 shares during the period. Twin Tree Management LP acquired a new position in NuScale Power during the 4th quarter worth approximately $42,000. Finally, NBC Securities Inc. increased its holdings in shares of 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 acquiring an additional 3,309 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

NuScale Power Stock Performance

The stock has a market cap of $9.57 billion, a P/E ratio of -35.27 and a beta of 1.62. The company has a fifty day moving average price of $18.45 and a 200 day moving average price of $20.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.11) 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 analyst estimates of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. On average, equities analysts expect that NuScale Power Co. will post -0.73 EPS for the current year.

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.