NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume

NuScale Power Co. (NYSE:SMR) saw unusually-strong trading volume on Tuesday . Approximately 3,895,116 shares changed hands during trading, a decline of 8% from the previous session’s volume of 4,242,709 shares.The stock last traded at $8.75 and had previously closed at $7.78.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on SMR shares. Wells Fargo & Company reissued an “underweight” rating and set 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 started coverage on shares of NuScale Power in a research note on Monday, January 29th. They set a “buy” rating and a $4.25 price target on the stock. UBS Group upped their price target on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group upped their price target 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. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.75.

NuScale Power Stock Up 14.3 %

The stock has a market cap of $2.16 billion, a price-to-earnings ratio of -10.42 and a beta of 0.98. The stock’s 50 day moving average price is $5.82 and its two-hundred day moving average price is $4.12.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.21). The firm had revenue of $1.38 million for the quarter, compared to analyst estimates 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 in the prior year, the business earned ($0.16) earnings per share. On average, analysts predict that NuScale Power Co. will post -0.64 earnings per share for the current fiscal year.

Insider Transactions at NuScale Power

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other NuScale Power news, General Counsel Robert K. Temple sold 23,806 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.07, for a total transaction of $144,502.42. Following the transaction, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The disclosure for this sale can be found here. Insiders have sold 115,899 shares of company stock worth $590,771 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC lifted its stake in NuScale Power by 11.2% in the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after acquiring an additional 301,548 shares during the last quarter. Vanguard Group Inc. lifted its stake in NuScale Power by 3.8% in the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after acquiring an additional 204,505 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after acquiring an additional 172,408 shares during the last quarter. Arizona State Retirement System purchased a new stake in shares of NuScale Power during the 4th quarter worth approximately $34,000. Finally, Raymond James & Associates purchased a new stake in shares of NuScale Power during the 3rd quarter worth approximately $439,000. 15.28% of the stock is 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.