NuScale Power (NYSE:SMR) Stock Price Up 3.5% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price rose 3.5% during trading on Wednesday . The company traded as high as $28.42 and last traded at $27.25. Approximately 5,732,998 shares were traded during trading, a decline of 10% from the average daily volume of 6,338,593 shares. The stock had previously closed at $26.34.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

The stock has a fifty day simple moving average of $18.49 and a two-hundred day simple moving average of $12.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.12.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now owns 14,054 shares in the company, valued at $134,496.78. The trade was a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 409,051 shares of company stock worth $5,525,671 in the last ninety days. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the 3rd quarter worth approximately $44,000. US Bancorp DE acquired a new position in shares of NuScale Power during the third quarter worth $54,000. CWM LLC lifted its stake in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power during the 2nd quarter valued at $64,000. Finally, TFC Financial Management Inc. bought a new stake in NuScale Power during the 2nd quarter worth $75,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.