NuScale Power (NYSE:SMR) Trading Up 3.8% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price rose 3.8% during mid-day trading on Tuesday . The company traded as high as $14.80 and last traded at $14.69. Approximately 1,899,035 shares traded hands during trading, a decline of 82% from the average daily volume of 10,472,535 shares. The stock had previously closed at $14.16.

Analyst Upgrades and Downgrades

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 Trading Up 3.0 %

The company has a fifty day simple moving average of $19.79 and a two-hundred day simple moving average of $19.68. The company has a market cap of $4.26 billion, a PE ratio of -15.87 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 Transactions at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the transaction, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at $470,764.50. The trade was a 51.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares during the last quarter. Verition Fund Management LLC raised its stake in NuScale Power by 319.9% during the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after purchasing an additional 86,454 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Stifel Financial Corp grew its position in NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after acquiring an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. purchased a new stake in shares of NuScale Power during the 3rd quarter worth about $277,000. 78.37% of the stock is currently owned by hedge funds and other 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.