NuScale Power (NYSE:SMR) Shares Up 11% – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) rose 11% on Thursday . The company traded as high as $27.69 and last traded at $28.37. Approximately 6,292,814 shares traded hands during trading, a decline of 31% from the average daily volume of 9,081,736 shares. The stock had previously closed at $25.57.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.47. 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 50 day moving average price is $22.99 and its two-hundred day moving average price is $16.42.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.48 million for the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.26) earnings per share.

Insider Buying and Selling at NuScale Power

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

Institutional Trading of NuScale Power

Institutional investors have recently bought and sold shares of the stock. Toth Financial Advisory Corp increased its holdings in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after purchasing an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter worth $44,000. US Bancorp DE bought a new stake in NuScale Power during the 3rd quarter worth about $54,000. CWM LLC boosted its holdings in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in NuScale Power in the 4th quarter valued at about $67,000. Institutional investors and hedge funds 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.