NuScale Power (NYSE:SMR) Trading Up 3.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price rose 3.8% during mid-day trading on Tuesday . The stock traded as high as $14.80 and last traded at $14.69. Approximately 1,899,035 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 10,472,535 shares. The stock had previously closed at $14.16.

Analysts Set New Price Targets

Separately, UBS Group lowered their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th.

NuScale Power Stock Up 1.6 %

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 stock’s 50-day moving average price is $20.21 and its 200-day moving average price is $19.67. The company has a market cap of $4.06 billion, a P/E ratio of -15.22 and a beta of 1.58.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the sale, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 720,682 shares of company stock worth $12,840,747. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently made changes to their positions in SMR. CoreCap Advisors LLC purchased a new stake in NuScale Power in the 4th quarter worth about $33,000. Venturi Wealth Management LLC boosted its position in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares during the period. Toth Financial Advisory Corp raised its position in shares of 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 purchasing an additional 1,800 shares during the period. Twin Tree Management LP purchased a new stake in shares of NuScale Power during the 4th quarter valued at approximately $42,000. Finally, Amalgamated Bank boosted its holdings in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after buying an additional 986 shares during the period. 78.37% of the stock is currently owned by institutional investors.

NuScale Power Company Profile

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.