NuScale Power (NYSE:SMR) Trading Up 3.5% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price traded up 3.5% during trading on Wednesday . The company traded as high as $28.42 and last traded at $27.25. 5,732,998 shares were traded during trading, a decline of 10% from the average session volume of 6,338,593 shares. The stock had previously closed at $26.34.

Wall Street Analyst Weigh In

SMR has been the subject of a number of research analyst reports. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of -28.68 and a beta of 1.12. 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 stock has a 50 day simple moving average of $17.76 and a 200 day simple moving average of $12.36.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders sold 409,051 shares of company stock valued at $5,525,671. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Swedbank AB acquired a new position in NuScale Power in the first quarter worth approximately $18,585,000. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after purchasing an additional 317,285 shares during the last quarter. State Street Corp increased its position in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after buying an additional 154,368 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 460,487 shares in the last quarter. 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.