NuScale Power (NYSE:SMR) Trading 1.5% Higher

NuScale Power Co. (NYSE:SMR)’s stock price was up 1.5% during trading on Tuesday . The company traded as high as $7.76 and last traded at $7.68. Approximately 645,418 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 4,815,738 shares. The stock had previously closed at $7.57.

Wall Street Analysts Forecast Growth

Separately, B. Riley lifted their price objective on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $8.15.

NuScale Power Price Performance

The firm has a market capitalization of $2.19 billion, a P/E ratio of -10.28 and a beta of 1.22. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $10.04 and a 200-day moving average price of $7.89.

NuScale Power (NYSE:SMR) last posted 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 return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. On average, analysts expect that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares in the company, valued at $190,540. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The disclosure for this sale can be found here. Insiders have sold 81,544 shares of company stock valued at $761,686 in the last ninety days. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

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

About NuScale Power

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.