NuScale Power (NYSE:SMR) Reaches New 52-Week High - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $29.52 and last traded at $28.84, with a volume of 1497022 shares changing hands. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

SMR has been the topic of a number of recent research reports. Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Up 9.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm's 50-day simple moving average is $17.40 and its 200 day simple moving average is $12.11. The company has a market cap of $7.71 billion, a P/E ratio of -31.80 and a beta of 1.12.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction 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 completion of the sale, the insider now owns 14,054 shares of the company's stock, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business's stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 25.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

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