NuScale Power (NYSE:SMR) Trading Up 11.9% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price rose 11.9% on Friday . The stock traded as high as $19.87 and last traded at $19.81. Approximately 4,028,439 shares changed hands during trading, a decline of 23% from the average daily volume of 5,233,892 shares. The stock had previously closed at $17.71.

Wall Street Analysts Forecast Growth

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

NuScale Power Trading Up 15.2 %

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 stock has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $15.15. The stock has a market cap of $5.21 billion, a PE ratio of -21.47 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after acquiring an additional 317,285 shares during the period. State Street Corp grew its holdings in shares of NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Van ECK Associates Corp grew its holdings 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 purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in NuScale Power by 212.4% during the 3rd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after buying an additional 128,012 shares during the period. 78.37% of the stock is currently owned by 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.