Stock Traders Purchase Large Volume of Call Options on NuScale Power (NYSE:SMR)

NuScale Power Corporation (NYSE:SMR - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors bought 50,329 call options on the company. This is an increase of 74% compared to the typical volume of 28,908 call options.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 1,565 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.94, for a total value of $26,511.10. Following the completion of the transaction, the vice president directly owned 1,218 shares of the company's stock, valued at $20,632.92. This represents a 56.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Clayton Scott sold 10,019 shares of the stock in a transaction on Monday, May 5th. The shares were sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider directly owned 86,965 shares of the company's stock, valued at approximately $1,459,272.70. This trade represents a 10.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,278 shares of company stock valued at $1,786,990. Corporate insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Samsung C&T Corp purchased a new stake in NuScale Power during the 4th quarter valued at about $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of NuScale Power by 1,220.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock worth $26,127,000 after acquiring an additional 1,705,411 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NuScale Power by 20.3% during the 1st 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 during the period. Finally, CloudAlpha Capital Management Limited Hong Kong acquired a new stake in NuScale Power during the 1st quarter worth approximately $14,271,000. Institutional investors and hedge funds own 78.37% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on SMR shares. Canaccord Genuity Group set a $35.00 target price on NuScale Power and gave the stock a "buy" rating in a research note on Thursday, May 29th. Northland Securities started coverage on NuScale Power in a research note on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price on the stock. Northland Capmk raised NuScale Power to a "hold" rating in a research note on Monday, July 7th. BTIG Research cut NuScale Power from a "buy" rating to a "neutral" rating in a research note on Wednesday, June 25th. Finally, Citigroup started coverage on NuScale Power in a research note on Monday, June 23rd. They issued a "neutral" rating and a $46.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $32.00.

NuScale Power Trading Up 5.4%

Shares of NYSE:SMR traded up $2.53 on Friday, hitting $49.36. 8,986,383 shares of the company were exchanged, compared to its average volume of 10,049,101. NuScale Power has a 1-year low of $6.88 and a 1-year high of $50.77. The stock's 50 day moving average price is $34.16 and its 200 day moving average price is $24.05. The firm has a market capitalization of $14.04 billion, a P/E ratio of -35.98 and a beta of 2.04.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.17) by $0.06. The company had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative net margin of 273.36% and a positive return on equity of 0.09%. On average, equities analysts predict that NuScale Power will post -0.73 EPS for the current fiscal year.

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.

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.