NuScale Power (NYSE:SMR) Shares Up 2.2% – Here’s Why

NuScale Power Co. (NYSE:SMR) traded up 2.2% during mid-day trading on Friday . The stock traded as high as $24.89 and last traded at $24.88. 3,651,867 shares traded hands during trading, a decline of 43% from the average session volume of 6,429,650 shares. The stock had previously closed at $24.35.

Analysts Set New Price Targets

Several analysts have recently commented on SMR shares. Craig Hallum raised their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

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 company has a market capitalization of $6.56 billion, a PE ratio of -27.05 and a beta of 1.33. The stock has a 50-day simple moving average of $20.59 and a 200 day simple moving average of $13.52.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 427,237 shares of company stock valued at $6,053,065. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the 3rd quarter worth approximately $44,000. US Bancorp DE acquired a new position in NuScale Power in the third quarter valued at $54,000. CWM LLC lifted its position in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC acquired a new stake in NuScale Power in the 2nd quarter worth about $64,000. Finally, TFC Financial Management Inc. purchased a new stake in NuScale Power in the 2nd quarter valued at about $75,000. Institutional investors and hedge funds own 15.28% 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.