NuScale Power (NYSE:SMR) Shares Up 2.4% - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report) shot up 2.4% during trading on Thursday . The company traded as high as $21.97 and last traded at $21.93. 3,220,006 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 5,899,305 shares. The stock had previously closed at $21.41.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SMR. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price target on the stock. Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Performance

The firm has a fifty day moving average of $13.28 and a 200-day moving average of $10.52. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market cap of $5.54 billion, a P/E ratio of -21.29 and a beta of 1.12.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share 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 company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same period in the previous year, the company posted ($0.13) EPS.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 14,054 shares of the company's stock, valued at $255,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction that occurred 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 sale, the chief financial officer now owns 57,681 shares of the company's stock, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 478,293 shares of company stock valued at $6,179,222. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. bought a new position in shares of NuScale Power during the 3rd quarter worth approximately $116,000. Entropy Technologies LP acquired a new stake in NuScale Power during the 3rd quarter worth approximately $138,000. TimesSquare Capital Management LLC acquired a new stake in NuScale Power during the 3rd quarter worth approximately $2,895,000. Philip James Wealth Mangement LLC acquired a new stake in NuScale Power during the 3rd quarter worth approximately $1,656,000. Finally, Canal Insurance CO lifted its holdings in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company's stock worth $2,501,000 after purchasing an additional 56,000 shares during the last quarter. 15.28% of the stock is currently owned by 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.

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