NuScale Power (NYSE:SMR) Stock Price Up 5.4% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shot up 5.4% during trading on Friday . The company traded as high as $20.29 and last traded at $20.07. 17,870,949 shares changed hands during trading, an increase of 22% from the average session volume of 14,665,250 shares. The stock had previously closed at $19.04.

Analyst Ratings Changes

Several research analysts have recently weighed in on SMR shares. Wall Street Zen downgraded shares of NuScale Power from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Cantor Fitzgerald started coverage on shares of NuScale Power in a research report on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 price objective for the company. Barclays began coverage on NuScale Power in a research note on Monday, September 29th. They set an “equal weight” rating and a $45.00 target price for the company. Citigroup reiterated a “sell” rating and issued a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of NuScale Power in a report on Monday. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $36.12.

NuScale Power Trading Up 5.4%

The company has a market cap of $5.99 billion, a P/E ratio of -7.02 and a beta of 2.03. The company’s 50-day moving average price is $35.15 and its two-hundred day moving average price is $36.42.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($1.85) EPS for the quarter, missing the consensus estimate 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 return on equity of 51.27% and a negative net margin of 594.63%.The business’s revenue for the quarter was up 1635.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.18) EPS. As a group, analysts anticipate that NuScale Power Corporation will post -0.73 earnings per share for the current year.

Insider Activity at NuScale Power

In other news, Director Corp Fluor sold 2,372,563 shares of the business’s stock in a transaction that occurred on 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 sale, the director directly owned 10,085,344 shares in the company, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 15,000,000 shares of company stock valued at $604,862,902. 1.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in the company. Private Wealth Partners LLC grew its holdings in shares of NuScale Power by 39.4% during the second quarter. Private Wealth Partners LLC now owns 23,000 shares of the company’s stock valued at $910,000 after purchasing an additional 6,500 shares during the last quarter. Intech Investment Management LLC boosted its position in NuScale Power by 72.3% during the 2nd quarter. Intech Investment Management LLC now owns 91,362 shares of the company’s stock valued at $3,614,000 after purchasing an additional 38,347 shares during the period. Truist Financial Corp boosted its position in NuScale Power by 23.3% during the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after purchasing an additional 9,016 shares during the period. Black Swift Group LLC bought a new position in NuScale Power during the 2nd quarter worth $585,000. Finally, Geode Capital Management LLC increased its position in NuScale Power by 25.2% in the second quarter. Geode Capital Management LLC now owns 2,854,664 shares of the company’s stock worth $112,944,000 after buying an additional 574,295 shares during the period. 78.37% of the stock is currently owned by institutional investors.

About NuScale Power

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.