NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price rose 4.5% on Thursday . The stock traded as high as $24.35 and last traded at $22.99. Approximately 6,695,784 shares were traded during trading, a decline of 43% from the average daily volume of 11,697,980 shares. The stock had previously closed at $22.00.
Wall Street Analyst Weigh In
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 issued a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of "Moderate Buy" and an average price target of $11.42.
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NuScale Power Price Performance
The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a market capitalization of $6.02 billion, a PE ratio of -24.84 and a beta of 1.47. The stock has a fifty day moving average price of $22.65 and a 200-day moving average price of $16.59.
NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The firm had revenue of $0.48 million for the quarter, compared to analysts' expectations of $6.18 million. During the same period in the previous year, the company posted ($0.26) earnings per share.
Insider Buying and Selling at NuScale Power
In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $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 owned by insiders.
Institutional Trading of NuScale Power
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Van ECK Associates Corp raised its position in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock valued at $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock valued at $21,194,000 after purchasing an additional 317,285 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of NuScale Power during the third quarter worth about $2,895,000. Finally, Exchange Traded Concepts LLC raised its position in shares of NuScale Power by 291.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company's stock worth $5,250,000 after purchasing an additional 217,998 shares during the last quarter. Institutional investors and hedge funds own 78.37% of the company's stock.
About NuScale Power
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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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