NuScale Power (NYSE:SMR) Trading Up 1% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price rose 1% during trading on Monday . The stock traded as high as $18.16 and last traded at $17.69. Approximately 2,941,258 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 8,335,432 shares. The stock had previously closed at $17.51.

Analysts Set New Price Targets

Separately, UBS Group reduced their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and a consensus target price of $12.58.

NuScale Power Stock Performance

The firm’s 50-day simple moving average is $21.00 and its two-hundred day simple moving average is $18.96. The company has a market cap of $4.98 billion, a PE ratio of -18.56 and a beta of 1.58. 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 NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were 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 of the company’s stock, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their position. The transaction was disclosed in a 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 that occurred on Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the sale, the chief financial officer now 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. Insiders sold 720,682 shares of company stock worth $12,840,747 in the last 90 days. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. Victory Capital Management Inc. increased its holdings in shares of NuScale Power by 6.6% during the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company’s stock valued at $191,000 after purchasing an additional 656 shares in the last quarter. HighTower Advisors LLC boosted its stake in shares of NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after acquiring an additional 820 shares in the last quarter. Amalgamated Bank grew its position in shares of NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after acquiring an additional 986 shares during the period. Summit Investment Advisors Inc. increased its position 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 valued at $159,000 after buying an additional 1,260 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of NuScale Power by 6.6% during 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 in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

NuScale Power Company Profile

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.