NuScale Power (NYSE:SMR) Stock Price Up 7.9% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) shares shot up 7.9% during trading on Friday . The stock traded as high as $25.58 and last traded at $25.44. 5,800,447 shares were traded during mid-day trading, a decline of 51% from the average session volume of 11,756,593 shares. The stock had previously closed at $23.58.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.42.

NuScale Power Trading Down 0.1 %

The company has a market capitalization of $6.08 billion, a PE ratio of -25.06 and a beta of 1.51. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock's fifty day moving average price is $22.44 and its two-hundred day moving average price is $16.72.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The business had revenue of $0.48 million during the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same quarter in the prior year, the business posted ($0.26) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares of the company's stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares of the company's stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC purchased a new stake in shares of NuScale Power in the 2nd quarter worth approximately $126,000. Sei Investments Co. bought a new stake in NuScale Power in the second quarter worth $520,000. Squarepoint Ops LLC purchased a new stake in shares of NuScale Power in the second quarter worth $783,000. The Manufacturers Life Insurance Company increased its holdings in shares of NuScale Power by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company's stock valued at $345,000 after acquiring an additional 8,096 shares in the last quarter. Finally, Truist Financial Corp purchased a new position in shares of NuScale Power in the 2nd quarter worth about $177,000. 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.