NuScale Power (NYSE:SMR) Trading 3.4% Higher – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price shot up 3.4% during trading on Friday . The stock traded as high as $29.48 and last traded at $28.62. 3,555,525 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 6,274,443 shares. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of -31.31 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The firm has a 50 day moving average price of $16.98 and a 200-day moving average price of $11.94.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 26.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 428,293 shares of company stock worth $5,679,222. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently made changes to their positions in the company. Catalina Capital Group LLC lifted its position in NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after purchasing an additional 809 shares during the period. HighTower Advisors LLC grew its stake in NuScale Power by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after acquiring an additional 820 shares during the period. Indie Asset Partners LLC grew its stake in shares of NuScale Power by 7.1% during the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after buying an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of NuScale Power during the 3rd quarter valued at $44,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after buying an additional 4,014 shares during the period. Hedge funds and other institutional investors own 15.28% 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.