NuScale Power (NYSE:SMR) Trading Up 1.6% - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price traded up 1.6% during mid-day trading on Monday . The stock traded as high as $19.69 and last traded at $18.50. 9,850,784 shares were traded during mid-day trading, an increase of 80% from the average session volume of 5,466,865 shares. The stock had previously closed at $18.21.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an "outperform" rating and a $11.00 price target for the company. Finally, B. Riley increased their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a "buy" rating in a research note on Thursday, June 27th. One research 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, the stock has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Performance

The company has a market cap of $4.72 billion, a PE ratio of -18.41 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The stock's 50-day simple moving average is $10.75 and its 200 day simple moving average is $9.36.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.18). The firm had revenue of $0.97 million for the quarter, compared to analysts' expectations of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the company 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 dated 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 owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction dated 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 owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction dated Wednesday, October 16th. The shares were 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 of the company's stock, valued at $255,782.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently added to or reduced their stakes in SMR. Quadrature Capital Ltd purchased a new position in NuScale Power during the 4th quarter valued at about $417,000. Evanson Asset Management LLC increased its holdings in NuScale Power by 44.3% during the 1st quarter. Evanson Asset Management LLC now owns 26,000 shares of the company's stock valued at $138,000 after acquiring an additional 7,986 shares in the last quarter. SG Americas Securities LLC increased its holdings in NuScale Power by 268.3% during the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company's stock valued at $286,000 after acquiring an additional 39,171 shares in the last quarter. Avantax Advisory Services Inc. purchased a new position in NuScale Power during the 1st quarter valued at about $58,000. Finally, Resurgent Financial Advisors LLC increased its holdings in NuScale Power by 100.0% during the 1st 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. 15.28% of the stock is currently owned by hedge funds and other 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.