NuScale Power (NYSE:SMR) Trading Up 7.8% – Here’s Why

NuScale Power Co. (NYSE:SMR) shares were up 7.8% during trading on Wednesday . The stock traded as high as $17.74 and last traded at $17.87. Approximately 1,850,172 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 8,263,458 shares. The stock had previously closed at $16.58.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price objective 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 Down 3.3 %

The company’s fifty day simple moving average is $20.72 and its 200-day simple moving average is $19.08. The firm has a market capitalization of $4.97 billion, a PE ratio of -18.76 and a beta of 1.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,682 shares of company stock worth $12,840,747 in the last ninety days. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently bought and sold shares of SMR. Victory Capital Management Inc. acquired a new stake in NuScale Power in the 3rd quarter worth about $116,000. Quest Partners LLC lifted its position in NuScale Power by 52.4% during the third quarter. Quest Partners LLC now owns 14,950 shares of the company’s stock worth $173,000 after buying an additional 5,142 shares in the last quarter. Intech Investment Management LLC purchased a new stake in shares of NuScale Power in the third quarter valued at about $175,000. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 460,487 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in NuScale Power in the 3rd quarter valued at approximately $471,000. 78.37% of the stock is 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.