NuScale Power (NYSE:SMR) Stock Price Up 7.3%

NuScale Power Co. (NYSE:SMR)’s share price was up 7.3% during mid-day trading on Tuesday . The stock traded as high as $5.31 and last traded at $5.29. Approximately 895,444 shares changed hands during trading, a decline of 79% from the average daily volume of 4,264,276 shares. The stock had previously closed at $4.93.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SMR shares. UBS Group increased their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Wells Fargo & Company restated an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group raised their target price on shares of NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Canaccord Genuity Group began coverage on shares of NuScale Power in a research note on Monday, January 29th. They set a “buy” rating and a $4.25 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $7.75.

NuScale Power Stock Up 12.0 %

The company’s 50 day moving average price is $4.76 and its two-hundred day moving average price is $3.73. The stock has a market cap of $1.29 billion, a P/E ratio of -6.78 and a beta of 1.06.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). The business had revenue of $4.56 million for the quarter, compared to analysts’ expectations of $1.75 million. NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. As a group, equities research analysts forecast that NuScale Power Co. will post -0.41 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after purchasing an additional 204,505 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in NuScale Power by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after acquiring an additional 172,408 shares during the period. FMR LLC raised its position in shares of NuScale Power by 11.2% during the 3rd quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after buying an additional 301,548 shares in the last quarter. Rheos Capital Works Inc. lifted its holdings in shares of NuScale Power by 93.8% in the third quarter. Rheos Capital Works Inc. now owns 620,000 shares of the company’s stock valued at $3,038,000 after buying an additional 300,000 shares during the period. Finally, Canal Insurance CO grew its holdings in shares of NuScale Power by 33.3% in the 3rd quarter. Canal Insurance CO now owns 160,000 shares of the company’s stock worth $784,000 after acquiring an additional 40,000 shares during the last quarter. 15.28% 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.