NuScale Power (NYSE:SMR) Hits New 1-Year High - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The stock traded as high as $32.15 and last traded at $31.44, with a volume of 5469250 shares. The stock had previously closed at $28.06.

Analysts Set New Price Targets

Several analysts recently commented on SMR shares. Craig Hallum raised 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. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They set an "outperform" rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, NuScale Power presently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Price Performance

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 stock has a 50 day moving average price of $18.85 and a 200-day moving average price of $12.72. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -31.21 and a beta of 1.12.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 409,051 shares of company stock valued at $5,525,671 over the last ninety days. Insiders own 1.96% of the company's stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. acquired a new stake in shares of NuScale Power in the third quarter valued at $555,000. Tidal Investments LLC acquired a new position in shares of NuScale Power during the 3rd quarter worth about $118,000. Barclays PLC boosted its position in shares of NuScale Power by 472.3% during the 3rd quarter. Barclays PLC now owns 150,791 shares of the company's stock worth $1,746,000 after acquiring an additional 124,441 shares in the last quarter. Geode Capital Management LLC boosted its position 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 acquiring an additional 317,285 shares in the last quarter. Finally, State Street Corp lifted 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 last quarter. Hedge funds and other institutional investors 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.