NuScale Power (NYSE:SMR) Stock Price Up 4.6% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price shot up 4.6% during mid-day trading on Thursday . The company traded as high as $23.72 and last traded at $23.44. 3,562,271 shares traded hands during trading, a decline of 45% from the average session volume of 6,471,919 shares. The stock had previously closed at $22.40.

Wall Street Analysts Forecast Growth

SMR has been the topic of several research reports. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The business has a fifty day moving average of $21.59 and a 200 day moving average of $14.04. 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 stock has a market cap of $5.40 billion, a PE ratio of -22.25 and a beta of 1.33.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 422,237 shares of company stock worth $6,005,215. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp boosted its holdings in NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares during the period. Van ECK Associates Corp increased its stake in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 purchasing an additional 460,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after buying an additional 128,012 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.