NuScale Power (NYSE:SMR) Trading 0.5% Higher – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) traded up 0.5% during trading on Wednesday . The stock traded as high as $17.55 and last traded at $16.29. 3,972,602 shares were traded during mid-day trading, a decline of 66% from the average session volume of 11,759,232 shares. The stock had previously closed at $16.21.

Analyst Upgrades and Downgrades

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. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average target price of $12.58.

NuScale Power Trading Down 1.0 %

The stock has a market capitalization of $4.10 billion, a price-to-earnings ratio of -16.85 and a beta of 1.58. 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 company has a fifty day moving average of $21.15 and a two-hundred day moving average of $18.79.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 720,682 shares of company stock valued at $12,840,747. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. CoreCap Advisors LLC bought a new stake in NuScale Power in the 4th quarter valued at $33,000. Venturi Wealth Management LLC boosted its position in shares of NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp increased its stake in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after acquiring an additional 1,800 shares during the period. Twin Tree Management LP acquired a new position in NuScale Power in the fourth quarter worth about $42,000. Finally, Amalgamated Bank lifted its stake in NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 shares during the period. 78.37% of the stock is currently owned by 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.