NuScale Power (NYSE:SMR) Trading 7.8% Higher – What’s Next?

NuScale Power Co. (NYSE:SMR) shares traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $17.74 and last traded at $17.87. 1,850,172 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 8,263,458 shares. The stock had previously closed at $16.58.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.50.

NuScale Power Trading Up 8.4 %

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 capitalization of $5.08 billion, a price-to-earnings ratio of -18.92 and a beta of 1.58. The business has a 50-day moving average of $20.77 and a two-hundred day moving average of $19.09.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares in the company, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 720,682 shares of company stock worth $12,840,747. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of NuScale Power by 17.9% in the 4th quarter. California State Teachers Retirement System now owns 79,687 shares of the company’s stock valued at $1,429,000 after purchasing an additional 12,070 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in NuScale Power in the fourth quarter valued at about $207,000. Total Wealth Planning & Management Inc. bought a new stake in NuScale Power during the fourth quarter worth about $324,000. Glen Eagle Advisors LLC bought a new stake in NuScale Power during the fourth quarter worth about $208,000. Finally, Voloridge Investment Management LLC bought a new stake in NuScale Power during the fourth quarter worth about $1,766,000. Institutional investors and hedge funds 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.