NuScale Power (NYSE:SMR) Stock Price Up 7.9% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price traded up 7.9% during mid-day trading on Friday . The company traded as high as $25.58 and last traded at $25.44. 5,800,447 shares traded hands during trading, a decline of 51% from the average session volume of 11,756,593 shares. The stock had previously closed at $23.58.

Wall Street Analysts Forecast Growth

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

NuScale Power Price Performance

The company has a market cap of $6.51 billion, a P/E ratio of -26.95 and a beta of 1.47. The firm has a 50 day moving average of $22.57 and a 200-day moving average of $16.64. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.48 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted ($0.26) EPS.

Insider Activity at NuScale Power

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

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC acquired a new position in NuScale Power during the second quarter valued at $126,000. Sei Investments Co. purchased a new position in shares of NuScale Power during the 2nd quarter valued at approximately $520,000. Squarepoint Ops LLC acquired a new position in shares of NuScale Power in the 2nd quarter valued at $783,000. The Manufacturers Life Insurance Company boosted its holdings in NuScale Power by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after buying an additional 8,096 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in NuScale Power during the second quarter valued at $419,000. 78.37% of the stock is currently 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.