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

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

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power presently has an average rating of “Hold” and a consensus target price of $13.50.

NuScale Power Price Performance

The company’s 50-day moving average is $20.77 and its 200-day moving average is $19.09. The firm has a market cap of $4.70 billion, a price-to-earnings ratio of -17.50 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 at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 720,682 shares of company stock valued at $12,840,747. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in shares of NuScale Power during the fourth quarter worth $33,000. Venturi Wealth Management LLC grew its position in NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP bought a new position in NuScale Power in the fourth quarter valued at about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the third quarter valued at about $44,000. Institutional investors own 78.37% of the company’s stock.

About NuScale Power

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.