NuScale Power (NYSE:SMR) Trading Up 3.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price shot up 3.5% during mid-day trading on Wednesday . The company traded as high as $28.42 and last traded at $27.25. 5,732,998 shares were traded during mid-day trading, a decline of 10% from the average session volume of 6,338,593 shares. The stock had previously closed at $26.34.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Craig Hallum upped their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One 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 a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 5.3 %

The firm has a 50 day moving average of $17.76 and a 200-day moving average of $12.36. 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 stock has a market capitalization of $7.08 billion, a P/E ratio of -28.68 and a beta of 1.12.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 14,054 shares in the company, valued at $134,496.78. This trade represents a 26.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 409,051 shares of company stock worth $5,525,671. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the third quarter worth approximately $44,000. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter valued at $54,000. CWM LLC raised its position in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power in the second quarter worth $64,000. Finally, TFC Financial Management Inc. bought a new stake in shares of NuScale Power during the second quarter worth $75,000. 15.28% of the stock is currently owned by institutional investors and hedge funds.

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.