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

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

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Up 17.7 %

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 has a market capitalization of $5.32 billion, a PE ratio of -21.95 and a beta of 1.33. The business’s 50 day simple moving average is $22.80 and its 200 day simple moving average is $15.23.

Insider Activity

In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the 3rd quarter worth about $44,000. US Bancorp DE purchased a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $54,000. CWM LLC raised its holdings 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 in the last quarter. Quest Partners LLC purchased a new stake in shares of NuScale Power during the 2nd quarter worth $115,000. Finally, Victory Capital Management Inc. acquired a new position in shares of NuScale Power during the third quarter worth $116,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.