NuScale Power (NYSE:SMR) Stock Price Up 2.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares shot up 2.5% on Wednesday . The company traded as high as $15.16 and last traded at $15.01. 1,440,935 shares were traded during trading, a decline of 82% from the average session volume of 8,095,976 shares. The stock had previously closed at $14.64.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their target price on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th.

NuScale Power Stock Performance

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 firm has a 50 day moving average price of $20.00 and a 200 day moving average price of $19.71. The stock has a market cap of $4.34 billion, a PE ratio of -16.17 and a beta of 1.58.

Insider Activity

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CoreCap Advisors LLC acquired a new stake in NuScale Power in the fourth quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its position in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP acquired a new position in NuScale Power during the 4th quarter valued at about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the third quarter valued at about $44,000. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.