NuScale Power Co. (NYSE:SMR) Short Interest Update

NuScale Power Co. (NYSE:SMR) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 18,640,000 shares, a decline of 16.2% from the November 15th total of 22,250,000 shares. Approximately 21.9% of the shares of the company are short sold. Based on an average daily trading volume, of 10,810,000 shares, the short-interest ratio is presently 1.7 days.

Analyst Upgrades and Downgrades

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

NuScale Power Stock Down 2.4 %

Shares of NYSE SMR opened at $21.14 on Friday. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.40 billion, a PE ratio of -22.25 and a beta of 1.33. The firm’s 50-day moving average is $21.59 and its 200-day moving average is $14.04. NuScale Power has a 1 year low of $1.88 and a 1 year high of $32.30.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the company’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 sale, the vice president now directly owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Robert K. Temple sold 75,000 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $12.00, for a total value of $900,000.00. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $168,648. This represents a 84.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 422,237 shares of company stock worth $6,005,215 over the last 90 days. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Canal Insurance CO boosted its stake in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after acquiring an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC grew its holdings in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after buying an additional 86,454 shares during the period. Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at $277,000. Finally, Van ECK Associates Corp raised its stake in NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares during the period. 78.37% of the stock is owned by institutional investors.

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.