NuScale Power (NYSE:SMR) Trading Up 6.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price shot up 6.5% during mid-day trading on Thursday . The company traded as high as $28.42 and last traded at $28.06. 10,872,091 shares were traded during mid-day trading, an increase of 71% from the average session volume of 6,362,766 shares. The stock had previously closed at $26.34.

Analysts Set New Price Targets

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

NuScale Power Stock Performance

The stock has a fifty day moving average of $18.85 and a 200-day moving average of $12.72. The firm has a market capitalization of $7.58 billion, a P/E ratio of -31.21 and a beta of 1.12. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at $134,496.78. This represents a 26.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 409,051 shares of company stock valued at $5,525,671 in the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Franklin Resources Inc. bought a new position in shares of NuScale Power in the third quarter valued at $555,000. Tidal Investments LLC acquired a new stake in NuScale Power in the third quarter valued at $118,000. Barclays PLC grew its position in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after acquiring an additional 124,441 shares during the period. Geode Capital Management LLC increased its stake in shares of NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares during the period. Institutional investors and hedge funds own 15.28% 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.