NuScale Power Co. (NYSE:SMR) Sees Significant Decrease in Short Interest

NuScale Power Co. (NYSE:SMR - Get Free Report) was the recipient of a significant decrease in short interest during the month of March. As of March 31st, there was short interest totalling 11,690,000 shares, a decrease of 22.6% from the March 15th total of 15,100,000 shares. Based on an average daily trading volume, of 4,650,000 shares, the short-interest ratio is currently 2.5 days. Approximately 20.8% of the company's stock are sold short.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the firm's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.06% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMR. Evanson Asset Management LLC boosted its holdings in NuScale Power by 44.3% in the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company's stock worth $138,000 after buying an additional 7,986 shares during the period. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power during the first quarter worth $1,328,000. Quadrature Capital Ltd bought a new position in shares of NuScale Power in the fourth quarter worth $417,000. Vanguard Group Inc. grew its position in shares of NuScale Power by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 5,663,272 shares of the company's stock valued at $18,632,000 after purchasing an additional 126,883 shares in the last quarter. Finally, Barclays PLC raised its stake in shares of NuScale Power by 454.6% during the 4th quarter. Barclays PLC now owns 82,112 shares of the company's stock valued at $269,000 after purchasing an additional 67,306 shares during the period. Institutional investors own 15.28% of the company's stock.

NuScale Power Stock Performance

SMR traded down $0.05 during midday trading on Friday, reaching $5.27. The company had a trading volume of 2,872,697 shares, compared to its average volume of 8,868,416. NuScale Power has a 12-month low of $1.81 and a 12-month high of $11.21. The business has a 50-day moving average price of $4.50 and a two-hundred day moving average price of $3.74. The stock has a market cap of $1.23 billion, a PE ratio of -6.59 and a beta of 1.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Thursday, March 14th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The firm had revenue of $4.56 million during the quarter, compared to analysts' expectations of $1.75 million. On average, research analysts anticipate that NuScale Power will post -0.41 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company reaffirmed an "underweight" rating and set a $4.50 price objective (down from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. UBS Group increased their price objective on shares of NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on NuScale Power in a research note on Monday, January 29th. They issued a "buy" rating and a $4.25 target price on the stock. Finally, Canaccord Genuity Group upped their target price on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $7.75.

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.