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

NuScale Power Co. (NYSE:SMR)’s stock price shot up 1.3% during trading 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.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SMR shares. 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 research report on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock’s 50 day moving average price is $22.77 and its 200 day moving average price is $14.88. The company has a market capitalization of $4.98 billion, a P/E ratio of -20.54 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was 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 $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in NuScale Power by 97.3% during the 2nd 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 period. Principal Financial Group Inc. bought a new position in shares of NuScale Power in the 2nd quarter worth $123,000. International Assets Investment Management LLC acquired a new stake in NuScale Power in the 2nd quarter valued at $64,000. Commonwealth Equity Services LLC increased its stake in NuScale Power by 85.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after purchasing an additional 36,236 shares in the last quarter. Finally, Van ECK Associates Corp acquired a new position in NuScale Power during the second quarter worth $7,600,000. Institutional investors and hedge funds 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.