NuScale Power (NYSE:SMR) Shares Up 0.7% - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) shot up 0.7% on Tuesday . The stock traded as high as $16.07 and last traded at $15.56. 6,169,042 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 11,815,134 shares. The stock had previously closed at $15.45.

Analysts Set New Price Targets

Separately, UBS Group reduced their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.58.

NuScale Power Price Performance

The company has a 50 day simple moving average of $21.33 and a 200-day simple moving average of $18.51. The stock has a market cap of $4.00 billion, a price-to-earnings ratio of -16.48 and a beta of 1.58. 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 Buying and Selling

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 34,675 shares of the company's stock, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company's stock, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

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Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC increased its position in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after buying an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp increased its position in shares of NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after buying an additional 1,800 shares in the last quarter. Twin Tree Management LP acquired a new position in NuScale Power in the 4th quarter worth $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power in the 3rd quarter worth $44,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.