NuScale Power (NYSE:SMR) Trading 3.6% Higher - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shares traded up 3.6% during trading on Tuesday . The company traded as high as $15.34 and last traded at $14.61. 3,005,165 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 8,115,352 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

Several research firms recently weighed in on SMR. BTIG Research began coverage on NuScale Power in a research note on Friday. They set a "buy" rating and a $20.00 target price for the company. UBS Group cut their price objective on shares of NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, NuScale Power has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NuScale Power Price Performance

The company has a fifty day moving average price of $18.11 and a two-hundred day moving average price of $19.87. The firm has a market capitalization of $4.27 billion, a PE ratio of -15.93 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares in the company, valued at approximately $7,810,211.91. The trade was a 6.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction dated 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 trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,114 shares of company stock valued at $1,351,231. 1.96% of the stock is currently owned by company insiders.

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Institutional Investors Weigh In On NuScale Power

Several large investors have recently modified their holdings of SMR. CoreCap Advisors LLC purchased a new position in NuScale Power in the 4th quarter valued at $33,000. Venturi Wealth Management LLC boosted its holdings in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after acquiring an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp increased its stake in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock worth $38,000 after acquiring an additional 1,800 shares during the period. Twin Tree Management LP purchased a new position in NuScale Power during the fourth quarter worth about $42,000. Finally, Amalgamated Bank lifted its position in NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after purchasing an additional 986 shares during the period. 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.