NuScale Power (NYSE:SMR) Stock Price Up 1.3% – What’s Next?

by · The Markets Daily

Shares of NuScale Power Co. (NYSE:SMR – Get Free Report) shot up 1.3% on Thursday . The stock traded as high as $21.34 and last traded at $21.29. 2,758,532 shares traded hands during trading, a decline of 58% from the average session volume of 6,545,446 shares. The stock had previously closed at $21.01.

Wall Street Analyst Weigh In

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

Get Our Latest Research Report on SMR

NuScale Power Stock Performance

The firm’s fifty day simple moving average is $22.67 and its 200 day simple moving average is $14.76. The company has a market capitalization of $5.51 billion, a price-to-earnings ratio of -22.73 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,610 shares of company stock worth $3,528,780. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the last quarter. Principal Financial Group Inc. bought a new position in shares of NuScale Power during the 2nd quarter valued at $123,000. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $64,000. Commonwealth Equity Services LLC boosted its holdings in NuScale Power by 85.9% in the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock worth $917,000 after purchasing an additional 36,236 shares in the last quarter. Finally, Van ECK Associates Corp bought a new position in NuScale Power during the second quarter valued at about $7,600,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

NuScale Power Company Profile

(Get Free Report)

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.

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