NuScale Power (NYSE:SMR) Shares Up 11.9% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price traded up 11.9% during mid-day trading on Friday . The stock traded as high as $19.87 and last traded at $19.81. 4,028,439 shares changed hands during trading, a decline of 23% from the average session volume of 5,233,892 shares. The stock had previously closed at $17.71.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Craig Hallum boosted 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. CLSA assumed coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 17.7 %

The stock has a market cap of $5.32 billion, a P/E ratio of -21.95 and a beta of 1.33. 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 firm’s 50-day moving average is $22.80 and its two-hundred day moving average is $15.27.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Canal Insurance CO boosted its position in shares of NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares during the period. Verition Fund Management LLC increased its holdings in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after acquiring an additional 86,454 shares in the last quarter. Stifel Financial Corp raised its position in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. bought a new position in shares of NuScale Power during the 3rd quarter valued at about $277,000. 78.37% of the stock is owned by institutional investors.

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.