NuScale Power (NYSE:SMR) Trading 9.2% Higher - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) rose 9.2% on Friday . The stock traded as high as $27.30 and last traded at $25.39. Approximately 11,925,644 shares traded hands during mid-day trading, a decline of 4% from the average daily volume of 12,393,785 shares. The stock had previously closed at $23.25.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price target 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, NuScale Power has an average rating of "Moderate Buy" and a consensus price target of $11.42.

NuScale Power Stock Performance

The company has a 50-day moving average of $22.05 and a 200 day moving average of $17.29. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $7.00 billion, a PE ratio of -28.87 and a beta of 1.51.

NuScale Power (NYSE:SMR - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The business had revenue of $0.48 million for the quarter, compared to analysts' expectations of $6.18 million. During the same quarter in the previous year, the firm earned ($0.26) earnings per share.

Insider Buying and Selling

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was 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 owns 3,801 shares of the company's stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now directly owns 34,675 shares of the company's stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock valued at $21,194,000 after acquiring an additional 317,285 shares during the last quarter. Van ECK Associates Corp raised its position in NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock valued at $31,317,000 after purchasing an additional 511,168 shares during the last quarter. State Street Corp raised its position in NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company's stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in NuScale Power by 8.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 735,383 shares of the company's stock valued at $13,185,000 after purchasing an additional 58,135 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock valued at $4,074,000 after purchasing an additional 128,012 shares during the last quarter. Institutional investors own 78.37% 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.