NuScale Power (NYSE:SMR) Trading Up 8.3% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) traded up 8.3% during trading on Wednesday . The stock traded as high as $21.34 and last traded at $20.83. 3,198,064 shares traded hands during trading, a decline of 62% from the average session volume of 8,396,623 shares. The stock had previously closed at $19.23.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 8.5 %

The company has a 50-day simple moving average of $22.82 and a 200 day simple moving average of $15.85. The company has a market capitalization of $5.62 billion, a P/E ratio of -23.17 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction 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 directly owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the business. Canal Insurance CO lifted its stake in NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC lifted its position in shares of NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the period. Stifel Financial Corp boosted its stake in NuScale Power by 581.8% in the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after buying an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in NuScale Power in the third quarter valued at $277,000. 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.