NuScale Power (NYSE:SMR) Shares Up 2.1% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price traded up 2.1% during mid-day trading on Thursday . The stock traded as high as $19.06 and last traded at $18.92. 2,519,947 shares changed hands during trading, a decline of 69% from the average session volume of 8,237,132 shares. The stock had previously closed at $18.53.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

NuScale Power Trading Down 1.1 %

The stock has a market cap of $5.17 billion, a PE ratio of -19.24 and a beta of 1.58. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a 50-day simple moving average of $20.75 and a 200-day simple moving average of $19.08.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 720,682 shares of company stock worth $12,840,747 over the last three months. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. California State Teachers Retirement System lifted its holdings in NuScale Power by 17.9% in the fourth quarter. California State Teachers Retirement System now owns 79,687 shares of the company’s stock valued at $1,429,000 after acquiring an additional 12,070 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in NuScale Power in the 4th quarter worth $207,000. Total Wealth Planning & Management Inc. bought a new stake in NuScale Power during the fourth quarter valued at about $324,000. Glen Eagle Advisors LLC purchased a new stake in NuScale Power in the fourth quarter worth about $208,000. Finally, Voloridge Investment Management LLC bought a new position in shares of NuScale Power in the fourth quarter worth about $1,766,000. 78.37% of the stock is currently 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.