NuScale Power (NYSE:SMR) Shares Up 7.3% - Time to Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares rose 7.3% on Wednesday . The stock traded as high as $20.19 and last traded at $20.19. Approximately 4,064,584 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 5,879,264 shares. The stock had previously closed at $18.82.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price target for the company. Craig Hallum boosted 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 equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Up 13.8 %

The firm has a 50-day moving average of $13.01 and a 200 day moving average of $10.44. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of -19.80 and a beta of 1.12. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analysts' expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter last year, the company posted ($0.13) earnings per share.

Insider Activity

In related news, insider Robert K. Temple sold 115,866 shares of the business's 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 transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 directly owns 19,054 shares in the company, valued at approximately $190,540. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the firm's 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 owns 14,054 shares in the company, valued at approximately $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 three months, insiders sold 478,293 shares of company stock valued at $6,179,222. Company insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in NuScale Power by 268.3% in the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company's stock worth $286,000 after purchasing an additional 39,171 shares during the period. Avantax Advisory Services Inc. bought a new position in shares of NuScale Power in the first quarter valued at approximately $58,000. Resurgent Financial Advisors LLC boosted its holdings 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 valued at $79,000 after acquiring an additional 7,400 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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. Finally, Virtu Financial LLC bought a new stake in NuScale Power during the first quarter worth approximately $98,000. Institutional investors and hedge funds 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.

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