NuScale Power (NYSE:SMR) Trading 11.7% Higher – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price rose 11.7% during mid-day trading on Friday . The company traded as high as $22.32 and last traded at $22.65. Approximately 3,630,352 shares changed hands during trading, a decline of 55% from the average daily volume of 8,035,205 shares. The stock had previously closed at $20.28.

Wall Street Analyst Weigh In

Separately, Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. 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. Based on data from MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business’s 50 day simple moving average is $22.82 and its two-hundred day simple moving average is $15.85. The stock has a market capitalization of $5.79 billion, a P/E ratio of -23.79 and a beta of 1.47.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the company’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 completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. The trade was 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.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of SMR. Rhumbline Advisers boosted its position in NuScale Power by 62.9% in the second quarter. Rhumbline Advisers now owns 104,341 shares of the company’s stock worth $1,220,000 after purchasing an additional 40,305 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of NuScale Power in the 2nd quarter worth about $126,000. MRP Capital Investments LLC bought a new position in NuScale Power during the second quarter valued at about $966,000. Sei Investments Co. purchased a new stake in NuScale Power during the second quarter worth about $520,000. Finally, Squarepoint Ops LLC bought a new stake in NuScale Power in the second quarter worth about $783,000. 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.