NuScale Power (NYSE:SMR) Trading Up 11% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) rose 11% during mid-day trading on Monday . The company traded as high as $14.94 and last traded at $13.99. Approximately 5,441,566 shares changed hands during trading, a decline of 33% from the average daily volume of 8,107,223 shares. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

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

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The company’s 50 day moving average price is $18.44 and its 200-day moving average price is $19.83. The stock has a market cap of $4.52 billion, a P/E ratio of -16.86 and a beta of 1.64.

Insiders Place Their Bets

In related news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. This trade represents a 6.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company’s stock in a transaction 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 completion of the transaction, the vice president now owns 1,149 shares of the company’s stock, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 89,114 shares of company stock valued at $1,351,231. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Samsung C&T Corp bought a new position in shares of NuScale Power during the 4th quarter valued at approximately $46,745,000. Arrowstreet Capital Limited Partnership purchased a new position in NuScale Power in the fourth quarter valued at approximately $22,823,000. Vanguard Group Inc. grew its holdings in NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after purchasing an additional 635,271 shares during the period. Van ECK Associates Corp increased its position in NuScale Power by 41.4% in the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after buying an additional 511,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the period. 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.