NuScale Power (NYSE:SMR) Stock Price Up 11.7% – What’s Next?

Shares of NuScale Power Co. (NYSE:SMR) were up 11.7% on Friday . The company traded as high as $22.32 and last traded at $22.65. Approximately 3,630,352 shares traded hands during trading, a decline of 55% from the average daily volume of 8,035,205 shares. The stock had previously closed at $20.28.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The stock has a market cap of $5.62 billion, a price-to-earnings ratio of -23.17 and a beta of 1.47. 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 company’s 50-day moving average is $22.77 and its 200-day moving average is $15.96.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred 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 owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after buying an additional 317,285 shares in the last quarter. State Street Corp raised its stake 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 acquiring an additional 154,368 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of NuScale Power by 90.0% during 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 in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of NuScale Power by 57.2% in the third 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 purchasing an additional 128,012 shares in the last quarter. Institutional investors and hedge funds 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.