NuScale Power (NYSE:SMR) Stock Price Up 12% – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price rose 12% on Tuesday . The company traded as high as $16.02 and last traded at $16.43. Approximately 4,325,035 shares traded hands during trading, a decline of 63% from the average daily volume of 11,735,501 shares. The stock had previously closed at $14.67.

Wall Street Analysts Forecast Growth

Separately, UBS Group cut their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and an average target price of $12.58.

NuScale Power Trading Down 0.7 %

The business has a 50-day moving average of $21.11 and a 200-day moving average of $18.77. 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 market cap of $4.05 billion, a price-to-earnings ratio of -16.70 and a beta of 1.58.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the sale, the chief financial officer now owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock valued at $12,840,747 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC bought a new stake in NuScale Power during the 4th quarter worth about $33,000. Venturi Wealth Management LLC raised its stake in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp lifted its holdings in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after buying an additional 1,800 shares during the period. Twin Tree Management LP acquired a new position in shares of NuScale Power during the 4th quarter worth about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $44,000. 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.