NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) saw unusually-high trading volume on Wednesday . Approximately 3,405,892 shares changed hands during trading, a decline of 46% from the previous session’s volume of 6,328,741 shares.The stock last traded at $26.86 and had previously closed at $26.34.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 1.8 %

The company has a 50-day moving average of $17.76 and a two-hundred day moving average of $12.36. 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 company has a market capitalization of $6.85 billion, a PE ratio of -28.68 and a beta of 1.12.

Insiders Place Their Bets

In other 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 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 trade represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 409,051 shares of company stock worth $5,525,671 over the last three months. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power in the third quarter worth $44,000. US Bancorp DE bought a new position in shares of NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC grew its position in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new stake in NuScale Power during the second quarter worth approximately $64,000. Finally, TFC Financial Management Inc. bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $75,000. Hedge funds and other institutional investors own 15.28% 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.