NuScale Power (NYSE:SMR) Stock Price Up 1% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price rose 1% during mid-day trading on Thursday . The stock traded as high as $18.80 and last traded at $18.11. Approximately 2,421,475 shares were traded during trading, a decline of 63% from the average daily volume of 6,590,206 shares. The stock had previously closed at $17.93.

Wall Street Analysts Forecast Growth

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

NuScale Power Trading Down 1.2 %

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 business's 50-day simple moving average is $22.77 and its two-hundred day simple moving average is $15.13. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -18.64 and a beta of 1.33.

Insider Buying and Selling

In other news, VP Jacqueline F. Engel sold 18,186 shares of the business's stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the firm's 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 sale, the insider now directly owns 14,054 shares of the company's stock, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 202,610 shares of company stock valued at $3,528,780. Company insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the third quarter worth about $44,000. US Bancorp DE bought a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $54,000. CWM LLC raised its position 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 valued at $61,000 after acquiring an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter worth $64,000. Finally, Quest Partners LLC acquired a new position in NuScale Power in the second quarter worth $115,000. Hedge funds and other institutional investors own 78.37% 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.