NuScale Power (NYSE:SMR) Trading 26.6% Higher - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) traded up 26.6% during mid-day trading on Wednesday . The stock traded as high as $17.73 and last traded at $17.24. 12,283,072 shares traded hands during trading, an increase of 141% from the average session volume of 5,100,249 shares. The stock had previously closed at $13.62.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMR. B. Riley lifted their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. Craig Hallum began coverage on shares of NuScale Power in a report on Thursday, September 26th. They issued a "buy" rating and a $16.00 target price on the stock. Finally, CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They set an "outperform" rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $9.68.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a fifty day moving average price of $10.19 and a two-hundred day moving average price of $9.07. The company has a market cap of $4.63 billion, a P/E ratio of -22.42 and a beta of 1.25.

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

Insiders Place Their Bets

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares of the company's stock, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert K. Temple sold 68,558 shares of the business's stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. This trade 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 have sold 374,729 shares of company stock worth $4,178,595. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in shares of NuScale Power in the 1st quarter worth $18,585,000. Van ECK Associates Corp purchased a new position in NuScale Power in the 2nd quarter worth about $7,600,000. Bank of New York Mellon Corp raised its holdings in NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock worth $3,256,000 after buying an additional 137,382 shares during the period. Rheos Capital Works Inc. acquired a new stake in NuScale Power during the 1st quarter worth about $1,328,000. Finally, Wedbush Securities Inc. lifted its stake in NuScale Power by 84.9% during the second quarter. Wedbush Securities Inc. now owns 188,600 shares of the company's stock valued at $2,205,000 after buying an additional 86,600 shares in the last quarter. Institutional investors 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.