NuScale Power (NYSE:SMR) Trading 1% Higher – Here’s Why

NuScale Power Co. (NYSE:SMR) shares shot up 1% during mid-day trading on Thursday . The company traded as high as $18.80 and last traded at $18.11. 2,421,475 shares changed hands during trading, a decline of 63% from the average session volume of 6,590,206 shares. The stock had previously closed at $17.93.

Analyst Ratings Changes

Several analysts have recently issued reports on SMR shares. Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Down 0.1 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market cap of $4.58 billion, a P/E ratio of -18.86 and a beta of 1.33. The firm’s 50-day simple moving average is $22.77 and its 200 day simple moving average is $15.13.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. Van ECK Associates Corp lifted its holdings in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Geode Capital Management LLC grew its stake in NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after buying an additional 317,285 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of NuScale Power in the 3rd quarter worth $2,895,000. Finally, State Street Corp raised its position in shares of NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after buying an additional 154,368 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.