NuScale Power (NYSE:SMR) Stock Price Up 2.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares shot up 2.8% during mid-day trading on Tuesday . The company traded as high as $26.55 and last traded at $24.14. 7,387,019 shares changed hands during trading, an increase of 22% from the average session volume of 6,079,378 shares. The stock had previously closed at $23.49.

Wall Street Analysts Forecast Growth

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

NuScale Power Trading Down 1.1 %

The company has a 50-day moving average price of $14.18 and a 200 day moving average price of $10.93. The stock has a market capitalization of $5.79 billion, a P/E ratio of -25.41 and a beta of 1.12. The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 478,293 shares of company stock worth $6,179,222. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new position in shares of NuScale Power during the third quarter worth $54,000. Avantax Advisory Services Inc. acquired a new stake in shares of NuScale Power in the 1st quarter valued at about $58,000. CWM LLC boosted its position 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 purchasing an additional 5,191 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at about $64,000. Finally, TFC Financial Management Inc. purchased a new stake in NuScale Power during the 2nd quarter valued at approximately $75,000. Institutional investors and hedge funds own 15.28% 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.