Investors Buy Large Volume of Call Options on NuScale Power (NYSE:SMR)

NuScale Power Corporation (NYSE:SMR) was the target of some unusual options trading activity on Friday. Investors acquired 50,329 call options on the company. This is an increase of approximately 74% compared to the average daily volume of 28,908 call options.

NuScale Power Price Performance

NuScale Power stock opened at $50.33 on Friday. NuScale Power has a 12-month low of $6.88 and a 12-month high of $50.88. The stock has a market capitalization of $14.31 billion, a PE ratio of -36.74 and a beta of 2.04. The firm has a 50 day simple moving average of $34.82 and a 200-day simple moving average of $24.27.

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

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total transaction of $26,511.10. Following the completion of the sale, the vice president owned 1,218 shares of the company’s stock, valued at $20,632.92. This represents a 56.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The disclosure for this sale can be found here. Insiders sold a total of 95,278 shares of company stock valued at $1,786,990 in the last quarter. Insiders own 1.27% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Woodward Diversified Capital LLC purchased a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $2,120,000. B.O.S.S. Retirement Advisors LLC lifted its position in shares of NuScale Power by 10.3% in the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 39,021 shares of the company’s stock valued at $1,544,000 after acquiring an additional 3,652 shares in the last quarter. Consolidated Portfolio Review Corp purchased a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $516,000. Truist Financial Corp lifted its position in shares of NuScale Power by 23.3% in the 2nd quarter. Truist Financial Corp now owns 47,645 shares of the company’s stock valued at $1,885,000 after acquiring an additional 9,016 shares in the last quarter. Finally, Union Bancaire Privee UBP SA lifted its position in shares of NuScale Power by 9.1% in the 2nd quarter. Union Bancaire Privee UBP SA now owns 4,612 shares of the company’s stock valued at $182,000 after acquiring an additional 386 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SMR has been the subject of a number of recent research reports. UBS Group boosted their price objective on shares of NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. BTIG Research cut shares of NuScale Power from a “buy” rating to a “neutral” rating in a research report on Wednesday, June 25th. Citigroup assumed coverage on shares of NuScale Power in a research report on Monday, June 23rd. They issued a “neutral” rating and a $46.00 target price for the company. CLSA set a $41.00 target price on shares of NuScale Power and gave the stock an “outperform” rating in a research report on Tuesday, May 27th. Finally, Canaccord Genuity Group set a $35.00 target price on shares of NuScale Power and gave the stock a “buy” rating in a research report on Thursday, May 29th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $32.00.

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.