NuScale Power (NYSE:SMR) Trading Up 5.6% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price shot up 5.6% during mid-day trading on Monday . The stock traded as high as $19.25 and last traded at $19.14. 2,571,977 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 8,183,562 shares. The stock had previously closed at $18.13.

Analysts Set New Price Targets

Separately, UBS Group lowered 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.

NuScale Power Stock Performance

The company’s fifty day simple moving average is $20.67 and its 200 day simple moving average is $19.47. 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 stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -19.65 and a beta of 1.58.

Insider Activity at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at $470,764.50. This represents a 51.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,682 shares of company stock worth $12,840,747. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

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