NuScale Power (NYSE:SMR) Stock Price Up 11.9% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares were up 11.9% during trading on Tuesday . The stock traded as high as $24.98 and last traded at $24.59. Approximately 6,602,411 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 8,551,002 shares. The stock had previously closed at $21.97.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued 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.

NuScale Power Stock Up 13.1 %

The company has a market cap of $7.38 billion, a price-to-earnings ratio of -30.43 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock’s fifty day moving average is $22.80 and its two-hundred day moving average is $16.23.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million during the quarter, compared to the consensus estimate of $6.18 million. During the same quarter in the prior year, the business earned ($0.26) EPS.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were 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 directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Caprock Group LLC bought a new stake in shares of NuScale Power in the fourth quarter valued at approximately $1,314,000. KBC Group NV purchased a new position in shares of NuScale Power in the 4th quarter worth about $70,000. Union Bancaire Privee UBP SA purchased a new position in NuScale Power in the 4th quarter worth $67,000. Kingswood Wealth Advisors LLC purchased a new stake in NuScale Power during the 4th quarter valued at about $265,000. Finally, Toth Financial Advisory Corp grew its position in NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.