NuScale Power (NYSE:SMR) Shares Up 12% - Here's What Happened

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) traded up 12% during mid-day trading on Tuesday . The stock traded as high as $16.02 and last traded at $16.43. 4,325,035 shares traded hands during trading, a decline of 63% from the average session volume of 11,735,501 shares. The stock had previously closed at $14.67.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $12.58.

NuScale Power Trading Down 1.6 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $4.07 billion, a price-to-earnings ratio of -16.78 and a beta of 1.58. The company has a fifty day moving average of $21.15 and a 200-day moving average of $18.79.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now owns 1,149 shares of the company's stock, valued at $16,683.48. This represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 720,682 shares of company stock valued at $12,840,747 in the last 90 days. 1.96% of the stock is owned by insiders.

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Hedge Funds Weigh In On NuScale Power

Large investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in NuScale Power during the third quarter worth about $54,000. Entropy Technologies LP acquired a new stake in NuScale Power during the third quarter worth approximately $138,000. Victory Capital Management Inc. acquired a new stake in NuScale Power during the 3rd quarter worth $116,000. Quest Partners LLC lifted its holdings in shares of NuScale Power by 52.4% in the 3rd quarter. Quest Partners LLC now owns 14,950 shares of the company's stock valued at $173,000 after purchasing an additional 5,142 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in NuScale Power in the third quarter valued at approximately $175,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.