NuScale Power (NYSE:SMR) Trading 12.5% Higher

NuScale Power Co. (NYSE:SMR) shot up 12.5% during mid-day trading on Friday . The company traded as high as $9.82 and last traded at $9.71. 2,344,197 shares traded hands during trading, a decline of 51% from the average session volume of 4,792,260 shares. The stock had previously closed at $8.63.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. B. Riley increased their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. CLSA assumed coverage on shares of NuScale Power in a report on Friday. They issued an “outperform” rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.63.

NuScale Power Price Performance

The business has a 50 day moving average of $9.98 and a 200 day moving average of $7.90. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $2.33 billion, a PE ratio of -11.42 and a beta of 1.22.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same period last year, the business earned ($0.13) earnings per share. As a group, research analysts predict that NuScale Power Co. will post -0.55 EPS for the current year.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 19,054 shares of the company’s stock, valued at approximately $190,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares of the company’s stock, valued at $190,540. The disclosure for this sale can be found here. Insiders sold a total of 81,544 shares of company stock worth $761,686 in the last quarter. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Mesirow Financial Investment Management Inc. purchased a new stake in NuScale Power during the first quarter worth approximately $53,000. Avantax Advisory Services Inc. bought a new position in shares of NuScale Power during the 1st quarter valued at about $58,000. International Assets Investment Management LLC bought a new position in shares of NuScale Power during the 2nd quarter valued at about $64,000. TFC Financial Management Inc. purchased a new stake in shares of NuScale Power in the second quarter worth approximately $75,000. Finally, Resurgent Financial Advisors LLC lifted its position in shares of NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after purchasing an additional 7,400 shares in the last quarter. Hedge funds and other institutional investors own 15.28% 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.