NuScale Power (NYSE:SMR) Sets New 52-Week High – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price reached a new 52-week high on Monday . The company traded as high as $21.38 and last traded at $21.34, with a volume of 7036944 shares trading hands. The stock had previously closed at $18.41.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMR. 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. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

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 business has a 50 day moving average price of $11.43 and a 200 day moving average price of $9.71. The stock has a market capitalization of $5.25 billion, a PE ratio of -19.23 and a beta of 1.25.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the previous year, the company earned ($0.13) EPS.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at $182,983.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 490,595 shares of company stock valued at $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently modified their holdings of SMR. Price T Rowe Associates Inc. MD raised its holdings in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after acquiring an additional 4,014 shares during the period. CWM LLC grew its position in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of NuScale Power in the second quarter worth about $64,000. Evanson Asset Management LLC lifted its position in shares of NuScale Power by 23.1% in the third quarter. Evanson Asset Management LLC now owns 32,000 shares of the company’s stock worth $371,000 after buying an additional 6,000 shares in the last quarter. Finally, Private Advisor Group LLC boosted its stake in NuScale Power by 20.7% during the third quarter. Private Advisor Group LLC now owns 35,470 shares of the company’s stock valued at $411,000 after buying an additional 6,071 shares during the last quarter. 15.28% of the stock is owned by hedge funds and other 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.