NuScale Power (NYSE:SMR) Stock Price Up 7.3%

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SMR shares. Canaccord Genuity Group lifted their price target on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. UBS Group upped their price target on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Canaccord Genuity Group began coverage on shares of NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price target for the company. Finally, Wells Fargo & Company reiterated an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, NuScale Power currently has an average rating of “Hold” and an average price target of $7.75.

NuScale Power Trading Up 12.0 %

The company has a 50 day simple moving average of $4.76 and a 200 day simple moving average of $3.73. The stock has a market cap of $1.29 billion, a P/E ratio of -6.78 and a beta of 1.06.

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

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its position in NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company’s stock valued at $15,774,000 after buying an additional 1,132,131 shares during the period. FMR LLC lifted its holdings in shares of NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company’s stock worth $14,619,000 after purchasing an additional 301,548 shares during the period. Rheos Capital Works Inc. boosted its position in NuScale Power by 93.8% during the third quarter. Rheos Capital Works Inc. now owns 620,000 shares of the company’s stock worth $3,038,000 after purchasing an additional 300,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock valued at $27,128,000 after buying an additional 204,505 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of NuScale Power in the 4th quarter valued at about $417,000. 15.28% of the stock is owned by hedge funds and other 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.