NuScale Power (NYSE:SMR) Stock Price Up 3.9% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) shares rose 3.9% on Tuesday . The stock traded as high as $20.12 and last traded at $19.53. Approximately 2,005,220 shares traded hands during trading, a decline of 77% from the average daily volume of 8,676,049 shares. The stock had previously closed at $18.80.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Price Performance

The company has a market capitalization of $5.20 billion, a P/E ratio of -21.42 and a beta of 1.47. The stock's fifty day simple moving average is $22.85 and its 200-day simple moving average is $15.82. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Activity at NuScale Power

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares of the company's stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Geode Capital Management LLC increased its position in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock valued at $21,194,000 after acquiring an additional 317,285 shares during the last quarter. State Street Corp raised its position in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company's stock worth $19,396,000 after acquiring an additional 154,368 shares in the last quarter. Van ECK Associates Corp raised its position in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock worth $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after acquiring an additional 460,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock worth $4,074,000 after purchasing an additional 128,012 shares during the last quarter. 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.

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