NuScale Power Target of Unusually Large Options Trading (NYSE:SMR)

NuScale Power Corporation (NYSE:SMR) was the target of some unusual options trading on Monday. Stock traders purchased 32,824 call options on the company. This represents an increase of 26% compared to the average volume of 25,958 call options.

Insider Activity

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 34,675 shares of the business’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $17.00, for a total value of $589,475.00. Following the sale, the chief executive officer now owns 49,019 shares in the company, valued at approximately $833,323. This represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 128,278 shares of company stock worth $2,286,280. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of NuScale Power by 6.6% during the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock worth $191,000 after purchasing an additional 656 shares during the last quarter. Deutsche Bank AG boosted its holdings in NuScale Power by 0.9% in the first quarter. Deutsche Bank AG now owns 76,082 shares of the company’s stock valued at $1,077,000 after acquiring an additional 686 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in NuScale Power by 6.9% in the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company’s stock valued at $189,000 after acquiring an additional 833 shares during the last quarter. Amalgamated Bank boosted its holdings in NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after acquiring an additional 986 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock valued at $159,000 after acquiring an additional 1,260 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on SMR. UBS Group increased their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. CLSA set a $41.00 price objective on NuScale Power and gave the stock an “outperform” rating in a research note on Tuesday, May 27th. BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research note on Tuesday, May 13th. Finally, Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a “buy” rating in a research note on Thursday, May 29th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and a consensus price target of $27.00.

NuScale Power Stock Performance

Shares of SMR stock opened at $39.23 on Wednesday. The stock’s fifty day moving average is $24.13 and its 200-day moving average is $21.49. The stock has a market capitalization of $11.16 billion, a PE ratio of -28.64 and a beta of 2.00. NuScale Power has a 52 week low of $6.88 and a 52 week high of $45.31.

NuScale Power (NYSE:SMR) last announced its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. The company had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $1.46 million. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. As a group, analysts forecast that NuScale Power will post -0.73 earnings per share for the current fiscal year.

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.