NuScale Power (NYSE:SMR) Sees Strong Trading Volume – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares saw strong trading volume on Wednesday . 3,405,892 shares were traded during mid-day trading, a decline of 46% from the previous session’s volume of 6,328,741 shares.The stock last traded at $26.86 and had previously closed at $26.34.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SMR shares. Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

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’s fifty day moving average is $18.49 and its 200-day moving average is $12.61. The stock has a market cap of $7.17 billion, a PE ratio of -29.54 and a beta of 1.12.

Insider Activity

In other news, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. This represents a 91.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 409,051 shares of company stock valued at $5,525,671 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SMR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $44,000. US Bancorp DE purchased a new stake in NuScale Power in the third quarter valued at approximately $54,000. CWM LLC lifted its stake in 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 purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of NuScale Power during the second quarter worth $64,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of NuScale Power in the 2nd quarter valued at $75,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.