NuScale Power (NYSE:SMR) Trading Up 1.5% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) rose 1.5% during mid-day trading on Tuesday . The company traded as high as $20.22 and last traded at $20.03. Approximately 2,500,041 shares were traded during trading, a decline of 62% from the average daily volume of 6,548,047 shares. The stock had previously closed at $19.73.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. 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 note on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 6.5 %

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 business has a fifty day moving average of $22.67 and a 200-day moving average of $14.76. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -22.12 and a beta of 1.33.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the 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 owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 202,610 shares of company stock valued at $3,528,780 in the last quarter. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SMR. Bank of New York Mellon Corp lifted its position in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after acquiring an additional 137,382 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of NuScale Power in the second quarter worth $123,000. International Assets Investment Management LLC purchased a new position in shares of NuScale Power during the second quarter valued at $64,000. Commonwealth Equity Services LLC raised its position in NuScale Power by 85.9% during the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after buying an additional 36,236 shares during the period. Finally, Van ECK Associates Corp purchased a new stake in NuScale Power in the 2nd quarter worth about $7,600,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.