NuScale Power (NYSE:SMR) Stock Price Up 4.4%

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price shot up 4.4% during mid-day trading on Monday . The company traded as high as $6.80 and last traded at $6.37. 1,980,992 shares were traded during trading, a decline of 56% from the average session volume of 4,451,876 shares. The stock had previously closed at $6.10.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SMR. Canaccord Genuity Group raised their price objective on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Wells Fargo & Company reissued an "underweight" rating and issued a $4.50 target price (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. UBS Group raised their target price on NuScale Power from $2.00 to $10.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 19th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $7.75.

NuScale Power Price Performance

The company has a 50 day moving average of $4.25 and a 200-day moving average of $3.72. The company has a market capitalization of $1.39 billion, a P/E ratio of -7.40 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) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The firm had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million. NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. Research analysts predict that NuScale Power Co. will post -0.41 EPS for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.06% of the company's stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. JPMorgan Chase & Co. bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $92,000. Rhumbline Advisers bought a new position in NuScale Power in the 2nd quarter valued at approximately $236,000. Northern Trust Corp bought a new position in NuScale Power in the 2nd quarter valued at approximately $1,436,000. American International Group Inc. bought a new position in NuScale Power in the 2nd quarter valued at approximately $80,000. Finally, Cubist Systematic Strategies LLC bought a new position in NuScale Power in the 2nd quarter valued at approximately $165,000. 15.28% of the stock is owned by institutional investors.

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.