NuScale Power (NYSE:SMR) Trading 8.5% Higher – What’s Next?

NuScale Power Co. (NYSE:SMR) traded up 8.5% during mid-day trading on Monday . The stock traded as high as $27.98 and last traded at $28.04. 6,665,867 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 12,521,673 shares. The stock had previously closed at $25.84.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.42.

NuScale Power Stock Performance

The firm’s 50 day simple moving average is $22.07 and its 200-day simple moving average is $17.39. The company has a market capitalization of $6.75 billion, a price-to-earnings ratio of -27.82 and a beta of 1.51. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were 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 in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently bought and sold shares of the business. Headlands Technologies LLC bought a new position in shares of NuScale Power in the fourth quarter valued at approximately $3,000,000. Geode Capital Management LLC increased its position in NuScale Power by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after acquiring an additional 135,613 shares in the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of NuScale Power by 2,114.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 40,042 shares of the company’s stock worth $788,000 after acquiring an additional 38,234 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $22,823,000. Finally, L & S Advisors Inc acquired a new stake in shares of NuScale Power in the fourth quarter valued at approximately $277,000. 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.