NuScale Power (NYSE:SMR) Trading 8.3% Higher – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price was up 8.3% during mid-day trading on Wednesday . The company traded as high as $21.34 and last traded at $20.83. Approximately 3,198,064 shares traded hands during trading, a decline of 62% from the average daily volume of 8,396,623 shares. The stock had previously closed at $19.23.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The company’s 50 day moving average price is $22.82 and its 200 day moving average price is $15.85. The firm has a market capitalization of $5.62 billion, a P/E ratio of -23.17 and a beta of 1.47.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now 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 legal filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power in the 3rd quarter valued at $44,000. US Bancorp DE acquired a new stake in shares of NuScale Power in the third quarter valued at about $54,000. CWM LLC raised its stake in shares of 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 purchasing an additional 5,191 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of NuScale Power in the third quarter valued at $116,000. Finally, TRUE Private Wealth Advisors acquired a new position in NuScale Power during the third quarter worth $117,000. Institutional investors own 78.37% of the company’s stock.

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.