NuScale Power (NYSE:SMR) Stock Price Up 2.7% After Analyst Upgrade

NuScale Power Corporation (NYSE:SMR)’s stock price was up 2.7% during mid-day trading on Tuesday after Canaccord Genuity Group raised their price target on the stock from $36.00 to $44.00. Canaccord Genuity Group currently has a buy rating on the stock. NuScale Power traded as high as $39.73 and last traded at $39.27. Approximately 3,334,634 shares changed hands during trading, a decline of 71% from the average daily volume of 11,572,164 shares. The stock had previously closed at $38.25.

A number of other research firms have also recently commented on SMR. Northland Securities started coverage on NuScale Power in a report on Monday, July 7th. They issued a “market perform” rating and a $35.00 price target on the stock. Citigroup started coverage on NuScale Power in a report on Monday, June 23rd. They set a “neutral” rating and a $46.00 price objective on the stock. Northland Capmk raised NuScale Power to a “hold” rating in a report on Monday, July 7th. UBS Group reaffirmed a “neutral” rating and set a $38.00 price objective (up from $34.00) on shares of NuScale Power in a report on Monday. Finally, The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the stock a “neutral” rating in a report on Tuesday, May 20th. Eight analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $34.44.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 26,345 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Carl M. Fisher sold 18,206 shares of the business’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total value of $808,164.34. Following the transaction, the chief operating officer directly owned 90,864 shares in the company, valued at approximately $4,033,452.96. This represents a 16.69% decrease in their position. 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 hedge funds have recently bought and sold shares of the business. Harbour Investments Inc. grew its position in NuScale Power by 21.3% in the 2nd quarter. Harbour Investments Inc. now owns 1,156 shares of the company’s stock valued at $46,000 after acquiring an additional 203 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of NuScale Power by 1.0% during the 2nd quarter. D.A. Davidson & CO. now owns 20,822 shares of the company’s stock worth $824,000 after purchasing an additional 212 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of NuScale Power by 14.8% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 2,641 shares of the company’s stock worth $95,000 after purchasing an additional 341 shares during the last quarter. Rothschild Investment LLC raised its stake in NuScale Power by 45.2% in the second quarter. Rothschild Investment LLC now owns 1,125 shares of the company’s stock valued at $45,000 after buying an additional 350 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in NuScale Power by 84.5% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 784 shares of the company’s stock valued at $31,000 after buying an additional 359 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

NuScale Power Stock Down 0.3%

The business has a 50 day simple moving average of $41.06 and a 200 day simple moving average of $27.13. The company has a market capitalization of $10.85 billion, a PE ratio of -32.06 and a beta of 2.06.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.01). The firm had revenue of $8.05 million during the quarter, compared to analyst estimates of $10.49 million. NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. Equities analysts expect that NuScale Power Corporation will post -0.73 EPS 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.