NuScale Power (NYSE:SMR) Trading 3.1% Higher - Here's Why

Key Points

• NuScale Power's stock increased by 3.1% to $52.09, despite a trading volume that was 67% lower than its average.
• Recent analyst ratings show a mix of opinions, with an average rating of "Hold" and a consensus target price of $33.00.
• Insiders have sold a total of 95,278 shares in the last ninety days, indicating potential concerns about the company's future performance.

NuScale Power Corporation (NYSE:SMR - Get Free Report) shares rose 3.1% on Thursday . The stock traded as high as $53.21 and last traded at $52.09. Approximately 3,679,523 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 11,312,644 shares. The stock had previously closed at $50.51.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Citigroup assumed coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a "neutral" rating and a $46.00 price objective for the company. BNP Paribas raised shares of NuScale Power to a "hold" rating in a research note on Friday, July 25th. BNP Paribas Exane initiated coverage on shares of NuScale Power in a research note on Friday, July 25th. They issued a "neutral" rating and a $41.00 price target on the stock. Northland Securities assumed coverage on shares of NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 price target on the stock. Finally, CLSA set a $41.00 price objective on shares of NuScale Power and gave the company an "outperform" rating in a report on Tuesday, May 27th. Eight analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of "Hold" and an average target price of $33.00.

NuScale Power Stock Performance

The business's fifty day moving average is $39.49 and its 200-day moving average is $26.07. The firm has a market cap of $12.68 billion, a P/E ratio of -32.64 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 273.36% and a positive return on equity of 0.09%. Analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Activity at NuScale Power

In related news, insider Clayton Scott sold 10,019 shares of the company's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider directly owned 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was 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. In the last three months, insiders have sold 95,278 shares of company stock worth $1,786,990. Company insiders own 1.27% of the company's stock.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new stake in shares of NuScale Power during the second quarter valued at approximately $3,065,000. First Command Advisory Services Inc. bought a new position in NuScale Power in the second quarter worth $71,000. Pasadena Private Wealth LLC bought a new position in shares of NuScale Power during the second quarter valued at $232,000. Envestnet Asset Management Inc. bought a new position in shares of NuScale Power during the second quarter valued at $636,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of NuScale Power by 77.8% during the second quarter. Nisa Investment Advisors LLC now owns 2,929 shares of the company's stock valued at $116,000 after acquiring an additional 1,282 shares in the last quarter. Hedge funds and other institutional investors 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.