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

NuScale Power Co. (NYSE:SMR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $23.24, but opened at $24.28. NuScale Power shares last traded at $25.73, with a volume of 3,694,105 shares trading hands.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of research reports. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 13.4 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.66 and a current ratio of 2.24. The company’s 50-day moving average is $14.49 and its 200 day moving average is $11.05.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the transaction, the insider now owns 14,054 shares in the company, valued at $134,496.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in SMR. US Bancorp DE purchased a new stake in shares of NuScale Power in the 3rd quarter worth $54,000. CWM LLC lifted its position in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of NuScale Power during the 2nd quarter valued at approximately $64,000. TFC Financial Management Inc. purchased a new stake in NuScale Power in the 2nd quarter worth approximately $75,000. Finally, Fortitude Family Office LLC bought a new stake in NuScale Power during the 2nd quarter worth approximately $98,000. 15.28% of the stock is currently 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.