NuScale Power Co. (NYSE:SMR – Get Free Report)’s share price traded up 7.1% during mid-day trading on Tuesday . The stock traded as high as $11.78 and last traded at $11.71. 1,480,855 shares traded hands during trading, a decline of 68% from the average session volume of 4,634,713 shares. The stock had previously closed at $10.93.
Analysts Set New Price Targets
A number of equities research analysts recently commented on SMR shares. B. Riley increased their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. UBS Group raised their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, March 19th. Canaccord Genuity Group upped their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $8.15.
NuScale Power Stock Performance
The stock has a 50 day moving average price of $7.81 and a 200 day moving average price of $5.26. The company has a market capitalization of $2.66 billion, a P/E ratio of -13.78 and a beta of 1.24.
NuScale Power (NYSE:SMR – Get Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The business had revenue of $1.38 million during the quarter, compared to the consensus estimate of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same quarter last year, the company posted ($0.16) earnings per share. As a group, sell-side analysts expect that NuScale Power Co. will post -0.64 earnings per share for the current year.
Insider Buying and Selling
In other NuScale Power news, General Counsel Robert K. Temple sold 8,873 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $53,592.92. Following the completion of the transaction, the general counsel now directly owns 42,860 shares of the company’s stock, valued at $258,874.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NuScale Power news, General Counsel Robert K. Temple sold 8,873 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total transaction of $53,592.92. Following the sale, the general counsel now directly owns 42,860 shares of the company’s stock, valued at $258,874.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The disclosure for this sale can be found here. In the last quarter, insiders have sold 56,131 shares of company stock valued at $339,745. 1.96% of the stock is owned by company insiders.
Institutional Investors Weigh In On NuScale Power
Hedge funds and other institutional investors have recently bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its position in shares of NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after acquiring an additional 4,014 shares during the period. Resurgent Financial Advisors LLC grew its position in shares of 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 purchasing an additional 7,400 shares in the last quarter. Global Retirement Partners LLC bought a new position in shares of NuScale Power in the fourth quarter worth $25,000. Evanson Asset Management LLC raised its position in shares of NuScale Power by 44.3% in the first quarter. Evanson Asset Management LLC now owns 26,000 shares of the company’s stock worth $138,000 after buying an additional 7,986 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. bought a new stake in NuScale Power during the first quarter valued at $53,000. 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.