NuScale Power (NYSE:SMR) Stock Price Up 2.6% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price rose 2.6% during trading on Tuesday . The company traded as high as $16.29 and last traded at $15.65. Approximately 2,003,385 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 8,171,065 shares. The stock had previously closed at $15.25.

Analysts Set New Price Targets

Several research analysts have issued reports on SMR shares. UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. BTIG Research began coverage on NuScale Power in a report on Friday, April 11th. They issued a "buy" rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.60.

NuScale Power Price Performance

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 business has a 50-day moving average of $17.06 and a 200 day moving average of $19.91. The firm has a market capitalization of $4.13 billion, a PE ratio of -15.38 and a beta of 1.64.

Insider Activity at NuScale Power

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the transaction, the chief technology officer now owns 516,207 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares of the company's stock, valued at approximately $470,764.50. This represents a 51.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 89,114 shares of company stock valued at $1,351,231 over the last ninety days. Corporate insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SMR. CoreCap Advisors LLC purchased a new stake in NuScale Power during the fourth quarter valued at about $33,000. Venturi Wealth Management LLC lifted its stake in shares of NuScale Power by 313.8% during 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 boosted its holdings in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock worth $38,000 after buying an additional 1,800 shares during the period. Twin Tree Management LP purchased a new position in NuScale Power in the 4th quarter valued at approximately $42,000. Finally, Amalgamated Bank raised its holdings in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after acquiring an additional 986 shares during the period. Hedge funds and other institutional investors own 78.37% of the company's stock.

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.