NuScale Power (NYSE:SMR) Shares Up 4.5% – What’s Next?

NuScale Power Co. (NYSE:SMR) shares shot up 4.5% on Thursday . The company traded as high as $24.35 and last traded at $22.99. 6,695,784 shares were traded during mid-day trading, a decline of 43% from the average session volume of 11,697,980 shares. The stock had previously closed at $22.00.

Analyst Upgrades and Downgrades

Separately, Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Performance

The stock’s 50-day moving average price is $22.44 and its 200 day moving average price is $16.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a market cap of $6.09 billion, a P/E ratio of -25.09 and a beta of 1.47.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The firm had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. During the same period last year, the company posted ($0.26) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Catalina Capital Group LLC grew its stake in shares of NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after acquiring an additional 809 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares in the last quarter. Indie Asset Partners LLC grew its stake in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after acquiring an additional 1,250 shares in the last quarter. Venturi Wealth Management LLC grew its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Toth Financial Advisory Corp grew its stake in shares of NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after acquiring an additional 1,800 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.