NuScale Power (NYSE:SMR) Trading Up 9.2% – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) shot up 9.2% during trading on Friday . The stock traded as high as $27.30 and last traded at $25.39. 11,925,644 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 12,393,785 shares. The stock had previously closed at $23.25.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $11.42.

NuScale Power Trading Up 11.2 %

The company has a 50-day simple moving average of $22.13 and a 200-day simple moving average of $16.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $6.60 billion, a P/E ratio of -27.22 and a beta of 1.51.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The company had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. During the same period in the prior year, the company earned ($0.26) EPS.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction 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 sale, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Victory Capital Management Inc. raised its position in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after acquiring an additional 656 shares during the period. Catalina Capital Group LLC raised its holdings in NuScale Power by 6.8% in 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 during the period. HighTower Advisors LLC grew its holdings in shares of NuScale Power by 7.3% in 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 during the period. Amalgamated Bank increased its position in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares in the last quarter. Finally, Indie Asset Partners LLC lifted its holdings in NuScale Power by 7.1% during the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after acquiring an additional 1,250 shares in the last quarter. 78.37% of the stock is owned by institutional investors and hedge funds.

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.