NuScale Power (NYSE:SMR) Trading Up 2.1% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price traded up 2.1% on Thursday . The company traded as high as $19.06 and last traded at $18.92. 2,519,947 shares were traded during trading, a decline of 69% from the average session volume of 8,237,132 shares. The stock had previously closed at $18.53.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

NuScale Power Trading Down 0.5 %

The company has a fifty day simple moving average of $20.68 and a 200-day simple moving average of $19.15. The stock has a market cap of $5.11 billion, a price-to-earnings ratio of -19.06 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 Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at $16,683.48. The trade was a 95.54 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in SMR. CoreCap Advisors LLC acquired a new position in NuScale Power in the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC increased its stake in shares of NuScale Power by 313.8% in the fourth 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 raised its holdings in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Twin Tree Management LP purchased a new position in NuScale Power in the fourth quarter valued at about $42,000. Finally, Amalgamated Bank raised its stake in shares of NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 shares in the last quarter. 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.