NuScale Power Target of Unusually Large Options Trading (NYSE:SMR)

Key Points

• NuScale Power experienced a significant increase in call options trading, with purchases rising approximately 43% from the average volume, totaling 57,548 call options.
• Analysts have varied outlooks on NuScale Power, with Canaccord Genuity raising its price target to $44.00 while several others maintain a "neutral" rating.
• Insider selling was notable as COO Carl M. Fisher and CEO John Lawrence Hopkins sold a combined total of over $1.43 million in company shares recently.

NuScale Power Corporation (NYSE:SMR - Get Free Report) was the target of some unusual options trading on Wednesday. Stock traders purchased 57,548 call options on the stock. Thisisanincreaseofapproximately43% compared to the typical volume of 40,152 call options.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SMR shares. UBS Group restated a "neutral" rating and issued a $38.00 price objective (up from $34.00) on shares of NuScale Power in a research report on Monday. Canaccord Genuity Group boosted their price objective on NuScale Power from $36.00 to $44.00 and gave the company a "buy" rating in a research report on Monday. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research report on Tuesday, May 27th. BTIG Research downgraded NuScale Power from a "buy" rating to a "neutral" rating in a research report on Wednesday, June 25th. Finally, BNP Paribas Exane started coverage on NuScale Power in a research report on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price on the stock. Eight analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $34.44.

Insider Activity

In other NuScale Power news, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction dated 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 owned 90,864 shares of the company's stock, valued at approximately $4,033,452.96. The trade was a 16.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of NuScale Power by 6.1% during the first quarter. Vanguard Group Inc. now owns 8,940,535 shares of the company's stock valued at $126,598,000 after buying an additional 512,618 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after purchasing an additional 1,153,158 shares in the last quarter. Geode Capital Management LLC grew its stake in NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company's stock worth $112,944,000 after purchasing an additional 574,295 shares in the last quarter. Samsung C&T Corp bought a new position in NuScale Power in the fourth quarter worth approximately $46,745,000. Finally, Swedbank AB grew its stake in NuScale Power by 6.7% in the first quarter. Swedbank AB now owns 2,402,125 shares of the company's stock worth $34,014,000 after purchasing an additional 149,875 shares in the last quarter. Institutional investors own 78.37% of the company's stock.

NuScale Power Stock Performance

SMR stock traded down $0.96 during midday trading on Wednesday, reaching $37.21. 7,774,338 shares of the company traded hands, compared to its average volume of 11,595,880. NuScale Power has a 52-week low of $6.88 and a 52-week high of $53.50. The business has a 50 day moving average of $41.06 and a 200-day moving average of $27.13. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of -31.25 and a beta of 2.06.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) 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 company had revenue of $8.05 million for the quarter, compared to analysts' expectations of $10.49 million. Research analysts anticipate that NuScale Power will post -0.73 earnings per share 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.

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