NuScale Power (NYSE:SMR) Trading 3.6% Higher – Here’s Why

NuScale Power Co. (NYSE:SMR)’s share price traded up 3.6% on Tuesday . The company traded as high as $15.34 and last traded at $14.61. 3,005,165 shares changed hands during trading, a decline of 63% from the average session volume of 8,115,352 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

Separately, UBS Group reduced 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 Trading Down 2.6 %

The firm’s 50-day simple moving average is $19.06 and its 200 day simple moving average is $19.84. The stock has a market cap of $3.88 billion, a P/E ratio of -14.36 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares in the company, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 89,114 shares of company stock valued at $1,351,231 in the last three months. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after buying an additional 635,271 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NuScale Power by 1.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after purchasing an additional 89,949 shares in the last quarter. Samsung C&T Corp acquired a new position in shares of NuScale Power in the 4th quarter worth approximately $46,745,000. Geode Capital Management LLC raised its holdings in shares of NuScale Power by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after purchasing an additional 135,613 shares in the last quarter. Finally, Van ECK Associates Corp boosted its holdings in NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after buying an additional 511,168 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.