NuScale Power (NYSE:SMR) Trading Up 1.5% – Here’s Why

NuScale Power Co. (NYSE:SMR) shares were up 1.5% during trading on Tuesday . The stock traded as high as $20.22 and last traded at $20.03. Approximately 2,500,041 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 6,548,047 shares. The stock had previously closed at $19.73.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SMR shares. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. Craig Hallum lifted their price target 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 analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 6.5 %

The firm’s fifty day moving average price is $22.48 and its 200-day moving average price is $14.63. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -22.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Buying and Selling at NuScale Power

In related news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 277,610 shares of company stock valued at $4,428,780 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the stock. Catalina Capital Group LLC raised its holdings in NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after purchasing an additional 809 shares in the last quarter. HighTower Advisors LLC raised its position in NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after acquiring an additional 820 shares in the last quarter. Indie Asset Partners LLC lifted its holdings in NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after acquiring an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NuScale Power in the 3rd quarter worth approximately $44,000. Finally, US Bancorp DE bought a new stake in shares of NuScale Power in the 3rd quarter worth approximately $54,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.