NuScale Power (NYSE:SMR) Hits New 12-Month High – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $32.15 and last traded at $31.44, with a volume of 5469250 shares. The stock had previously closed at $28.06.

Analysts Set New Price Targets

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

NuScale Power Stock Performance

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 firm’s 50 day moving average is $18.49 and its 200-day moving average is $12.61. The company has a market cap of $7.66 billion, a PE ratio of -33.44 and a beta of 1.12.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 144,627 shares of the stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. This trade represents a 91.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 409,051 shares of company stock worth $5,525,671. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently made changes to their positions in SMR. Swedbank AB acquired a new position in shares of NuScale Power in the first quarter worth $18,585,000. Geode Capital Management LLC lifted its holdings in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after buying an additional 317,285 shares during the last quarter. State Street Corp increased its holdings in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after acquiring an additional 154,368 shares during the last quarter. Van ECK Associates Corp raised its position in shares of 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 acquiring an additional 585,292 shares in the last quarter. Finally, 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 during the last quarter. 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.