NuScale Power (NYSE:SMR) Shares Up 7.3%

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

Analyst Upgrades and Downgrades

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

NuScale Power Price Performance

The firm has a 50 day moving average price of $4.87 and a 200-day moving average price of $3.74.

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

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Global Retirement Partners LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $25,000. Essex Private Wealth Management LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $33,000. Sloy Dahl & Holst LLC acquired a new position in NuScale Power during the fourth quarter worth approximately $33,000. Arizona State Retirement System acquired a new position in NuScale Power during the fourth quarter worth approximately $34,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in NuScale Power during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors own 15.28% 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.