NuScale Power (NYSE:SMR) Shares Up 4.5% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares rose 4.5% during mid-day trading on Thursday . The company traded as high as $24.35 and last traded at $22.99. Approximately 6,695,784 shares traded hands during mid-day trading, a decline of 43% from the average daily volume of 11,697,980 shares. The stock had previously closed at $22.00.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, NuScale Power has an average rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Up 7.2 %

The stock has a market capitalization of $6.02 billion, a price-to-earnings ratio of -24.84 and a beta of 1.47. The business has a 50-day moving average of $22.65 and a 200-day moving average of $16.59. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $0.48 million for the quarter, compared to analyst estimates of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same quarter in the prior year, the business earned ($0.26) earnings per share.

Insiders Place Their Bets

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

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in the company. Toth Financial Advisory Corp raised its position in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of NuScale Power during the 3rd quarter worth approximately $44,000. US Bancorp DE purchased a new position in shares of NuScale Power in the 3rd quarter valued at $54,000. CWM LLC raised its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares in the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new stake in NuScale Power in the fourth quarter valued at $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.