NuScale Power (NYSE:SMR) Shares Up 9.2% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price rose 9.2% on Wednesday . The company traded as high as $26.13 and last traded at $25.37. Approximately 7,117,416 shares traded hands during mid-day trading, an increase of 16% from the average daily volume of 6,118,435 shares. The stock had previously closed at $23.24.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SMR shares. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average of $14.49 and a two-hundred day moving average of $11.05.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 428,293 shares of company stock worth $5,679,222. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently added to or reduced their stakes in the business. Swedbank AB acquired a new position in NuScale Power in the first quarter valued at approximately $18,585,000. Van ECK Associates Corp increased its stake in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares during the period. Bank of New York Mellon Corp boosted its stake in NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in NuScale Power in the third quarter worth $2,895,000. Institutional investors and hedge funds 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.