NuScale Power (NYSE:SMR) Trading Up 5.1% - Here's Why

Key Points

• NuScale Power's stock price rose by 5.1% on Thursday, trading as high as $36.72, although this was accompanied by a significant 76% decline in trading volume compared to the average.
• Analysts have set new price targets for NuScale Power, with Citigroup targeting $46.00, BNP Paribas at $41.00, and Bank of America at $36.00, signaling a consensus rating of "Hold."
• The company reported a loss of $0.13 per share for the last quarter, missing analysts' estimates, and had a negative net margin of 221.07%.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price was up 5.1% on Thursday . The company traded as high as $36.72 and last traded at $36.95. Approximately 2,714,256 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 11,507,077 shares. The stock had previously closed at $35.16.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. Northland Capmk upgraded NuScale Power to a "hold" rating in a research report on Monday, July 7th. Citigroup started coverage on NuScale Power in a research note on Monday, June 23rd. They set a "neutral" rating and a $46.00 target price on the stock. BNP Paribas Exane started coverage on NuScale Power in a research note on Friday, July 25th. They set a "neutral" rating and a $41.00 target price on the stock. Bank of America started coverage on NuScale Power in a research note on Thursday, August 21st. They set a "neutral" rating and a $36.00 target price on the stock. Finally, BNP Paribas raised NuScale Power to a "hold" rating in a research note on Friday, July 25th. Three equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $34.60.

NuScale Power Stock Up 3.7%

The business has a fifty day simple moving average of $40.61 and a two-hundred day simple moving average of $28.01. The company has a market cap of $10.39 billion, a P/E ratio of -30.68 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. On average, equities analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Transactions at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of NuScale Power stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $44.39, for a total transaction of $808,164.34. Following the completion of the sale, the chief operating officer directly owned 90,864 shares of the company's stock, valued at $4,033,452.96. The trade was a 16.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.27% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC grew its stake in NuScale Power by 9.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company's stock valued at $1,292,000 after purchasing an additional 2,798 shares during the last quarter. Marex Group plc purchased a new stake in shares of NuScale Power in the second quarter worth about $717,000. Delos Wealth Advisors LLC purchased a new position in NuScale Power during the second quarter worth approximately $51,000. FORA Capital LLC purchased a new position in NuScale Power during the second quarter worth approximately $5,549,000. Finally, Rakuten Securities Inc. boosted its position in NuScale Power by 119.9% during the second quarter. Rakuten Securities Inc. now owns 22,462 shares of the company's stock worth $889,000 after purchasing an additional 12,249 shares in the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.