NuScale Power (NYSE:SMR) Sets New 12-Month High Following Analyst Upgrade

NuScale Power Co. (NYSE:SMR)’s share price hit a new 52-week high during mid-day trading on Thursday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. NuScale Power traded as high as $19.72 and last traded at $18.72, with a volume of 2754659 shares changing hands. The stock had previously closed at $19.07.

Other analysts have also recently issued reports about the company. B. Riley upped their target price on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. CLSA initiated coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Carl M. Fisher sold 12,302 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was 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 valued at $4,178,595. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Avantax Advisory Services Inc. purchased a new position in NuScale Power in the first quarter valued at about $58,000. SG Americas Securities LLC raised its holdings in NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after purchasing an additional 39,171 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in NuScale Power during the fourth quarter worth $417,000. Van ECK Associates Corp acquired a new stake in NuScale Power in the second quarter valued at $7,600,000. Finally, Rheos Capital Works Inc. acquired a new position in shares of NuScale Power during the 1st quarter worth $1,328,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

NuScale Power Stock Down 1.8 %

The firm has a market capitalization of $4.66 billion, a PE ratio of -18.50 and a beta of 1.25. The firm’s 50-day moving average is $10.19 and its 200 day moving average is $9.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) 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 business had revenue of $0.97 million during the quarter, compared to analysts’ expectations of $1.43 million. During the same period last year, the company earned ($0.13) EPS.

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.