NuScale Power (NYSE:SMR) Trading Up 7.8% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price shot up 7.8% during trading on Wednesday . The company traded as high as $17.74 and last traded at $17.87. 1,850,172 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 8,263,458 shares. The stock had previously closed at $16.58.

Wall Street Analyst Weigh In

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 report on Friday, March 7th.

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 company has a market capitalization of $4.97 billion, a PE ratio of -18.76 and a beta of 1.58. The firm’s 50 day simple moving average is $20.72 and its 200 day simple moving average is $19.08.

Insider Buying and Selling

In other 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 completion of the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’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 directly owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 720,682 shares of company stock valued at $12,840,747. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after purchasing an additional 635,271 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after acquiring an additional 89,949 shares in the last quarter. Samsung C&T Corp purchased a new stake in NuScale Power in the fourth quarter worth about $46,745,000. Geode Capital Management LLC grew its holdings in NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after acquiring an additional 135,613 shares in the last quarter. Finally, Van ECK Associates Corp raised its holdings in shares of NuScale Power by 41.4% in the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after purchasing an additional 511,168 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.