NuScale Power (NYSE:SMR) Shares Up 4.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares shot up 4.4% on Tuesday . The company traded as high as $19.65 and last traded at $18.8760. 19,160,174 shares changed hands during trading, an increase of 30% from the average session volume of 14,710,418 shares. The stock had previously closed at $18.08.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SMR. Zacks Research downgraded shares of NuScale Power from a “hold” rating to a “strong sell” rating in a research note on Wednesday, November 12th. Royal Bank Of Canada reduced their target price on NuScale Power from $35.00 to $32.00 and set a “sector perform” rating on the stock in a report on Monday, November 10th. Citigroup restated a “sell” rating and issued a $37.50 target price (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. UBS Group set a $20.00 price target on NuScale Power in a research report on Tuesday, November 25th. Finally, Barclays started coverage on NuScale Power in a report on Monday, September 29th. They issued an “equal weight” rating and a $45.00 price objective for the company. Three analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $36.12.

NuScale Power Stock Performance

The business has a 50-day moving average price of $34.09 and a 200 day moving average price of $36.59. The stock has a market capitalization of $5.63 billion, a P/E ratio of -6.60 and a beta of 2.03.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($1.85) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($1.74). The company had revenue of $8.24 million for the quarter, compared to the consensus estimate of $11.29 million. NuScale Power had a negative net margin of 594.63% and a negative return on equity of 51.27%. The firm’s quarterly revenue was up 1635.2% on a year-over-year basis. During the same period last year, the business earned ($0.18) EPS. As a group, research analysts forecast that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of NuScale Power stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $43.99, for a total value of $104,369,046.37. Following the completion of the transaction, the director owned 10,085,344 shares of the company’s stock, valued at $443,654,282.56. The trade was a 19.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 15,000,000 shares of company stock worth $604,862,902 in the last ninety days. 1.20% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the company. CX Institutional purchased a new position in NuScale Power in the third quarter worth about $25,000. Nemes Rush Group LLC purchased a new position in NuScale Power in the 3rd quarter worth approximately $25,000. Strategic Advocates LLC purchased a new position in NuScale Power in the 3rd quarter worth approximately $25,000. Quantbot Technologies LP bought a new position in NuScale Power in the 1st quarter valued at approximately $27,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in NuScale Power by 84.5% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after purchasing an additional 359 shares during the last quarter. 78.37% of the stock is currently owned by 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.