NuScale Power (NYSE:SMR) Trading Up 17.5% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) rose 17.5% on Monday . The company traded as high as $21.70 and last traded at $21.63. Approximately 12,906,390 shares were traded during trading, an increase of 126% from the average daily volume of 5,702,717 shares. The stock had previously closed at $18.41.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on 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 research report on Thursday, October 17th. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NuScale Power has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Up 19.6 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The stock has a market cap of $5.49 billion, a P/E ratio of -21.38 and a beta of 1.25. The company has a 50-day simple moving average of $11.68 and a two-hundred day simple moving average of $9.82.

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 for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The firm had revenue of $0.97 million for the quarter, compared to analysts' expectations of $1.43 million. During the same period in the previous year, the company earned ($0.13) EPS.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the business's stock in a transaction on 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 transaction, the insider now directly owns 14,054 shares of the company's stock, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the firm's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now directly owns 30,323 shares of the company's stock, valued at approximately $266,539.17. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock valued at $6,287,356 over the last ninety days. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Avantax Advisory Services Inc. bought a new stake in shares of NuScale Power during the first quarter valued at approximately $58,000. SG Americas Securities LLC boosted its holdings in shares of 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 buying an additional 39,171 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of NuScale Power in the 2nd quarter worth about $7,600,000. Brookstone Capital Management bought a new position in shares of NuScale Power in the 2nd quarter worth about $126,000. Finally, Truist Financial Corp purchased a new position in NuScale Power during the 2nd quarter valued at about $177,000. Hedge funds and other 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.