NuScale Power (NYSE:SMR) Reaches New 12-Month High – Here’s Why

NuScale Power Co. (NYSE:SMR) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $27.54 and last traded at $25.01, with a volume of 3658025 shares trading hands. The stock had previously closed at $24.98.

Analyst Ratings Changes

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

NuScale Power Price Performance

The business has a 50-day moving average of $15.50 and a two-hundred day moving average of $11.36. The company has a current ratio of 2.24, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.74 billion, a P/E ratio of -24.25 and a beta of 1.12.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value 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 25.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert K. Temple sold 5,000 shares of the firm’s 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 of the company’s stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power in the 3rd quarter valued at $44,000. US Bancorp DE acquired a new stake in NuScale Power during the 3rd quarter worth about $54,000. CWM LLC grew its holdings in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new position in shares of NuScale Power in the 2nd quarter worth about $64,000. Finally, TFC Financial Management Inc. bought a new stake in shares of NuScale Power during the 2nd quarter valued at about $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.