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

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

Analysts Set New Price Targets

Separately, UBS Group decreased their target price on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.58.

NuScale Power Stock Performance

The stock has a market cap of $4.98 billion, a price-to-earnings ratio of -18.56 and a beta of 1.58. The firm’s 50-day moving average price is $21.00 and its two-hundred day moving average price is $18.96. 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 Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock worth $12,840,747 in the last ninety days. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of SMR. Vanguard Group Inc. raised its holdings in shares of NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after acquiring an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in NuScale Power by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock worth $101,998,000 after acquiring an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new stake in NuScale Power in the 4th quarter worth approximately $46,745,000. Geode Capital Management LLC raised its holdings 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 during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in shares of NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after purchasing an additional 511,168 shares during the last quarter. Hedge funds and other institutional investors 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.