NuScale Power (NYSE:SMR) Trading 5.6% Higher – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price traded up 5.6% during mid-day trading on Monday . The company traded as high as $19.25 and last traded at $19.14. 2,571,977 shares traded hands during mid-day trading, a decline of 69% from the average session volume of 8,183,562 shares. The stock had previously closed at $18.13.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on 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 Up 5.3 %

The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of -20.13 and a beta of 1.58. 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 company has a 50-day moving average price of $20.68 and a 200-day moving average price of $19.31.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated 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 directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock valued at $12,840,747 over the last three months. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. CoreCap Advisors LLC purchased a new position in shares of NuScale Power during the fourth quarter worth about $33,000. Venturi Wealth Management LLC grew its stake in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares during the last quarter. Twin Tree Management LP acquired a new stake in shares of NuScale Power during the fourth quarter worth $42,000. Finally, Amalgamated Bank grew its position in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares during the last quarter. 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.