NuScale Power (NYSE:SMR) Trading 11.7% Higher – Here’s Why

NuScale Power Co. (NYSE:SMR) shares shot up 11.7% on Friday . The company traded as high as $22.32 and last traded at $22.65. 3,630,352 shares changed hands during mid-day trading, a decline of 55% from the average session volume of 8,035,205 shares. The stock had previously closed at $20.28.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Up 8.5 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -23.17 and a beta of 1.47. The business has a fifty day moving average of $22.77 and a 200 day moving average of $15.96.

Insider Transactions at NuScale Power

In other NuScale Power 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 transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power in the third quarter worth about $44,000. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter worth approximately $54,000. CWM LLC lifted its holdings in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of NuScale Power in the third quarter valued at approximately $116,000. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of NuScale Power in the third quarter worth $117,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.