NuScale Power (NYSE:SMR) Shares Up 6.5% – Here’s Why

NuScale Power Co. (NYSE:SMR) rose 6.5% during trading on Wednesday . The company traded as high as $21.05 and last traded at $21.01. Approximately 5,321,488 shares changed hands during mid-day trading, a decline of 19% from the average daily volume of 6,562,179 shares. The stock had previously closed at $19.73.

Analyst Ratings Changes

A number of analysts recently weighed in on SMR shares. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. Craig Hallum lifted 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 3.9 %

The business’s 50 day moving average is $22.74 and its 200 day moving average is $14.81. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of -22.97 and a beta of 1.33.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 68,558 shares of the stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $13.02, for a total value of $892,625.16. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $182,983.08. This represents a 82.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 202,610 shares of company stock valued at $3,528,780 over the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NuScale Power in the third quarter worth $44,000. US Bancorp DE acquired a new position in shares of NuScale Power during the 3rd quarter worth $54,000. CWM LLC raised its holdings in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new stake in NuScale Power during the second quarter worth approximately $64,000. Finally, Quest Partners LLC acquired a new position in NuScale Power in the 2nd quarter valued at $115,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.