NuScale Power (NYSE:SMR) Shares Gap Up – Here’s Why

NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Tuesday . The stock had previously closed at $14.16, but opened at $14.75. NuScale Power shares last traded at $14.14, with a volume of 1,078,244 shares traded.

Analyst Ratings Changes

Separately, UBS Group dropped their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

NuScale Power Stock Up 3.0 %

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 business has a 50 day moving average of $19.79 and a 200 day moving average of $19.68. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of -15.87 and a beta of 1.58.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Charles Schwab Investment Management Inc. increased its holdings in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares in the last quarter. Verition Fund Management LLC increased its holdings in NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after purchasing an additional 86,454 shares in the last quarter. JPMorgan Chase & Co. raised its position in NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Stifel Financial Corp boosted its stake in NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new stake in shares of NuScale Power during the third quarter worth $277,000. 78.37% of the stock is owned by institutional investors.

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.