NuScale Power (NYSE:SMR) Trading Up 1.3% – Here’s What Happened

NuScale Power Corporation (NYSE:SMR) shares traded up 1.3% on Friday . The stock traded as high as $41.25 and last traded at $40.03. 17,417,516 shares were traded during trading, an increase of 39% from the average session volume of 12,512,855 shares. The stock had previously closed at $39.51.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays assumed coverage on shares of NuScale Power in a research report on Monday, September 29th. They set an “equal weight” rating and a $45.00 price objective on the stock. BNP Paribas raised shares of NuScale Power to a “hold” rating in a research report on Friday, July 25th. Bank of America reaffirmed an “underperform” rating and set a $34.00 price objective (down previously from $38.00) on shares of NuScale Power in a research report on Tuesday, September 30th. BNP Paribas Exane assumed coverage on shares of NuScale Power in a research report on Friday, July 25th. They set a “neutral” rating and a $41.00 price objective on the stock. Finally, Northland Securities began coverage on shares of NuScale Power in a research report on Monday, July 7th. They set a “market perform” rating and a $35.00 price objective on the stock. Three analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, NuScale Power has a consensus rating of “Hold” and an average price target of $36.67.

NuScale Power Stock Up 1.3%

The company has a market cap of $11.40 billion, a P/E ratio of -33.64 and a beta of 2.02. The stock’s 50-day moving average price is $38.88 and its 200 day moving average price is $31.56.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The firm had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. Analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Corp Fluor sold 532,354 shares of the firm’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $36.52, for a total value of $19,441,568.08. Following the sale, the director owned 3,424,278 shares in the company, valued at approximately $125,054,632.56. This trade represents a 13.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 11,624,569 shares of company stock valued at $468,599,880 in the last 90 days. Company insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Infini Capital Management Ltd acquired a new stake in shares of NuScale Power in the second quarter worth $989,000. Orion Porfolio Solutions LLC grew its stake in shares of NuScale Power by 9.4% in the second quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company’s stock worth $1,292,000 after acquiring an additional 2,798 shares during the last quarter. Marex Group plc acquired a new stake in shares of NuScale Power in the second quarter worth $717,000. Delos Wealth Advisors LLC acquired a new stake in shares of NuScale Power in the second quarter worth $51,000. Finally, FORA Capital LLC acquired a new stake in shares of NuScale Power in the second quarter worth $5,549,000. Institutional investors and hedge funds 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.