NuScale Power (NYSE:SMR) Trading Up 13.3% – What’s Next?

Shares of NuScale Power Corporation (NYSE:SMR) were up 13.3% on Thursday . The stock traded as high as $23.35 and last traded at $22.8130. Approximately 41,736,166 shares traded hands during trading, an increase of 181% from the average daily volume of 14,875,587 shares. The stock had previously closed at $20.14.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. Citigroup restated a “sell” rating and issued a $37.50 price target (down from $46.00) on shares of NuScale Power in a research report on Tuesday, October 21st. Weiss Ratings reiterated a “sell (d-)” rating on shares of NuScale Power in a research note on Monday. Zacks Research cut shares of NuScale Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 12th. BNP Paribas lowered NuScale Power from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 21st. Finally, Barclays initiated coverage on NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price target on the stock. Three 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 company’s stock. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Reduce” and a consensus price target of $36.12.

NuScale Power Stock Down 6.7%

The firm’s 50 day simple moving average is $32.61 and its 200 day simple moving average is $36.32. The company has a market cap of $6.37 billion, a price-to-earnings ratio of -7.46 and a beta of 2.09.

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

Insider Activity

In other news, Director Corp Fluor sold 2,372,563 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company’s stock, valued at approximately $443,654,282.56. This trade represents a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 15,000,000 shares of company stock valued at $604,862,902 over the last ninety days. Corporate insiders own 1.20% of the company’s stock.

Institutional Trading of NuScale Power

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

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.