NuScale Power (NYSE:SMR) Trading 11% Higher – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price was up 11% during mid-day trading on Monday . The stock traded as high as $14.94 and last traded at $13.99. Approximately 5,441,566 shares changed hands during trading, a decline of 33% from the average daily volume of 8,107,223 shares. The stock had previously closed at $12.60.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th.

NuScale Power Trading Up 11.6 %

The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -14.80 and a beta of 1.64. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The business has a fifty day simple moving average of $19.06 and a 200-day simple moving average of $19.84.

Insider Activity at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. This represents a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,114 shares of company stock worth $1,351,231 in the last quarter. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Samsung C&T Corp acquired a new stake in NuScale Power during the fourth quarter worth approximately $46,745,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of NuScale Power during the 4th quarter worth approximately $22,823,000. Vanguard Group Inc. increased its stake in shares of NuScale Power by 8.2% in the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after acquiring an additional 635,271 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after acquiring an additional 511,168 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after acquiring an additional 460,487 shares in the last quarter. 78.37% of the stock is owned by institutional investors.

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.