NuScale Power (NYSE:SMR) Hits New 52-Week High Following Analyst Upgrade

NuScale Power Co. (NYSE:SMR) shares hit a new 52-week high on Thursday after Craig Hallum raised their price target on the stock from $16.00 to $21.00. Craig Hallum currently has a buy rating on the stock. NuScale Power traded as high as $19.72 and last traded at $18.72, with a volume of 2754659 shares. The stock had previously closed at $19.07.

SMR has been the subject of several other research reports. B. Riley lifted their price objective on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.39.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at $182,983.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares of the company’s stock, valued at $190,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 374,729 shares of company stock worth $4,178,595 in the last quarter. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its position in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of NuScale Power during the second quarter valued at approximately $64,000. TFC Financial Management Inc. purchased a new position in shares of NuScale Power during the second quarter valued at approximately $75,000. Fortitude Family Office LLC purchased a new position in shares of NuScale Power during the second quarter valued at approximately $98,000. Finally, Quest Partners LLC purchased a new position in shares of NuScale Power during the second quarter valued at approximately $115,000. Institutional investors own 15.28% of the company’s stock.

NuScale Power Stock Down 5.5 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The stock has a market capitalization of $4.49 billion, a PE ratio of -17.50 and a beta of 1.25. The company has a 50 day moving average price of $10.37 and a 200-day moving average price of $9.14.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same period last year, the firm posted ($0.13) earnings per share.

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.