NuScale Power (NYSE:SMR) Trading 3.8% Higher - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) rose 3.8% during trading on Tuesday . The company traded as high as $14.80 and last traded at $14.69. Approximately 1,899,035 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 10,472,535 shares. The stock had previously closed at $14.16.

Analyst Ratings Changes

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th.

NuScale Power Price Performance

The stock has a market cap of $3.55 billion, a PE ratio of -13.23 and a beta of 1.58. The firm's fifty day moving average price is $19.49 and its 200 day moving average price is $19.64. 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 Activity at NuScale Power

In related news, VP Jacqueline F. Engel sold 24,618 shares of the business's 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 owns 1,149 shares in the company, valued at approximately $16,683.48. The trade was a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the transaction, the chief financial officer now owns 29,985 shares of the company's stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

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Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of SMR. Vanguard Group Inc. lifted its position in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock worth $151,113,000 after buying an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of NuScale Power by 1.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company's stock valued at $101,998,000 after acquiring an additional 89,949 shares during the period. Samsung C&T Corp bought a new stake in shares of NuScale Power in the 4th quarter worth about $46,745,000. Geode Capital Management LLC boosted its stake in shares of NuScale Power by 7.4% during the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company's stock worth $35,249,000 after purchasing an additional 135,613 shares during the period. Finally, Van ECK Associates Corp grew its holdings in NuScale Power by 41.4% during the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock valued at $31,317,000 after purchasing an additional 511,168 shares during the last quarter. 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.