NuScale Power (NYSE:SMR) Trading 6.5% Higher – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price shot up 6.5% during mid-day trading on Wednesday . The stock traded as high as $21.05 and last traded at $21.01. 5,321,488 shares traded hands during mid-day trading, a decline of 19% from the average session volume of 6,562,179 shares. The stock had previously closed at $19.73.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SMR shares. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 6.5 %

The company’s fifty day simple moving average is $22.63 and its 200 day simple moving average is $14.72. The firm has a market capitalization of $5.37 billion, a P/E ratio of -22.12 and a beta of 1.33. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the 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 of the company’s stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the sale, the insider now owns 14,054 shares in the company, valued at $182,983.08. This represents a 82.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,610 shares of company stock worth $3,528,780 over the last three months. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Catalina Capital Group LLC increased its stake in shares of NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after purchasing an additional 809 shares in the last quarter. HighTower Advisors LLC increased its position in NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after buying an additional 820 shares in the last quarter. Indie Asset Partners LLC raised its stake in NuScale Power by 7.1% during the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after buying an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power in the third quarter worth $44,000. Finally, US Bancorp DE purchased a new stake in shares of NuScale Power in the third quarter worth $54,000. 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.