Shares of NuScale Power Co. (NYSE:SMR – Get Free Report) shot up 9.8% during trading on Wednesday . The stock traded as high as $25.59 and last traded at $25.23. 5,344,070 shares changed hands during trading, a decline of 56% from the average session volume of 12,054,664 shares. The stock had previously closed at $22.98.
Analyst Ratings Changes
Separately, Craig Hallum increased their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.42.
NuScale Power Stock Down 3.7 %
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 company has a market capitalization of $6.04 billion, a P/E ratio of -24.90 and a beta of 1.51. The firm has a 50-day moving average price of $22.22 and a two-hundred day moving average price of $16.94.
NuScale Power (NYSE:SMR – Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The firm had revenue of $0.48 million during the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same period last year, the business earned ($0.26) earnings per share.
Insider Buying and Selling
In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.
Institutional Trading of NuScale Power
A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Van ECK Associates Corp increased its stake in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after buying an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Geode Capital Management LLC lifted its stake in 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 in the last quarter. TimesSquare Capital Management LLC bought a new stake in NuScale Power in the 3rd quarter valued at approximately $2,895,000. Finally, Exchange Traded Concepts LLC lifted its stake in NuScale Power by 291.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company’s stock valued at $5,250,000 after acquiring an additional 217,998 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.
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.