Stock Traders Buy High Volume of NuScale Power Call Options (NYSE:SMR)

NuScale Power Co. (NYSE:SMR) was the recipient of unusually large options trading activity on Monday. Investors acquired 32,824 call options on the company. This represents an increase of 26% compared to the typical volume of 25,958 call options.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SMR. Canaccord Genuity Group set a $35.00 price target on shares of NuScale Power and gave the company a “buy” rating in a research report on Thursday, May 29th. BTIG Research reaffirmed a “buy” rating on shares of NuScale Power in a research note on Tuesday, May 13th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a “neutral” rating in a research note on Tuesday, May 20th. UBS Group upped their price target on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, CLSA set a $41.00 price objective on NuScale Power and gave the stock an “outperform” rating in a report on Tuesday, May 27th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.00.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 1,565 shares of the stock in a transaction dated Monday, May 5th. The stock was 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 now directly owns 1,218 shares in the company, valued at $20,632.92. This represents a 56.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the transaction, the chief executive officer now directly owns 49,019 shares in the company, valued at $833,323. This trade represents a 41.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,278 shares of company stock worth $2,286,280. 1.27% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in shares of NuScale Power by 12.8% during the 1st quarter. Rhumbline Advisers now owns 125,708 shares of the company’s stock valued at $1,780,000 after buying an additional 14,304 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in NuScale Power during the 1st quarter valued at about $60,000. Integrity Alliance LLC. boosted its stake in NuScale Power by 56.3% during the first quarter. Integrity Alliance LLC. now owns 17,219 shares of the company’s stock worth $244,000 after acquiring an additional 6,200 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NuScale Power by 1,220.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock worth $26,127,000 after purchasing an additional 1,705,411 shares during the period. Finally, Voleon Capital Management LP bought a new position in shares of NuScale Power during the first quarter valued at approximately $741,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Price Performance

Shares of NYSE SMR opened at $42.43 on Tuesday. NuScale Power has a 1 year low of $6.88 and a 1 year high of $45.31. The stock has a market capitalization of $12.07 billion, a P/E ratio of -44.67 and a beta of 2.00. The company’s 50-day moving average is $23.67 and its 200 day moving average is $21.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR) last posted its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. The firm had revenue of $13.38 million for the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. On average, sell-side analysts expect that NuScale Power will post -0.73 earnings per share for the current year.

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.