NuScale Power (NYSE:SMR) Shares Up 10% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price was up 10% during trading on Monday . The stock traded as high as $23.16 and last traded at $22.94. Approximately 6,478,670 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 7,489,361 shares. The stock had previously closed at $20.85.

Analyst Ratings Changes

SMR has been the subject of several research analyst reports. CLSA assumed coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 9.1 %

The business has a 50-day moving average price of $22.84 and a 200 day moving average price of $15.49. 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 stock has a market capitalization of $5.04 billion, a P/E ratio of -20.78 and a beta of 1.47.

Insider Buying and Selling at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred 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 approximately $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 798,620 shares of company stock worth $14,624,962 over the last 90 days. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SMR. Van ECK Associates Corp increased its stake in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after buying an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. raised 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 purchasing an additional 460,487 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of NuScale Power during the third quarter valued at approximately $2,895,000. Finally, State Street Corp increased its holdings in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after buying an additional 154,368 shares during the period. Hedge funds and other institutional investors 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.