NuScale Power (NYSE:SMR) Trading 7.8% Higher – What’s Next?

NuScale Power Co. (NYSE:SMR) rose 7.8% during mid-day trading on Wednesday . The stock traded as high as $17.74 and last traded at $17.87. Approximately 1,850,172 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 8,263,458 shares. The stock had previously closed at $16.58.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, NuScale Power presently has a consensus rating of “Hold” and an average price target of $13.50.

NuScale Power Price Performance

The company has a market cap of $5.08 billion, a P/E ratio of -18.92 and a beta of 1.58. The company has a fifty day simple moving average of $20.77 and a 200-day simple moving average of $19.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the transaction, the vice president now directly owns 1,149 shares of the company’s stock, valued at $16,683.48. This 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 firm’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 transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly 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. Insiders have sold a total of 720,682 shares of company stock valued at $12,840,747 in the last three months. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SMR. Victory Capital Management Inc. raised its stake 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 in the last quarter. HighTower Advisors LLC grew its holdings in NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares during the last quarter. Amalgamated Bank raised its position in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares during the period. Summit Investment Advisors Inc. lifted its stake in shares of NuScale Power by 16.6% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company’s stock worth $159,000 after buying an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC grew its stake in NuScale Power by 6.6% in the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company’s stock valued at $379,000 after buying an additional 1,314 shares during the last quarter. 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.