NuScale Power (NYSE:SMR) Trading 4.1% Higher - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shot up 4.1% during mid-day trading on Friday . The company traded as high as $20.10 and last traded at $19.78. 3,479,134 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 6,544,353 shares. The stock had previously closed at $19.01.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Craig Hallum boosted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an "outperform" rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, NuScale Power presently has an average rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Stock Performance

The firm's fifty day simple moving average is $22.36 and its 200 day simple moving average is $14.44. The company has a market capitalization of $5.05 billion, a PE ratio of -20.81 and a beta of 1.33. 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 Transactions at NuScale Power

In other news, insider Robert K. Temple sold 75,000 shares of the stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the sale, the insider now directly owns 14,054 shares of the company's stock, valued at $168,648. This represents a 84.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares of the company's stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 277,610 shares of company stock worth $4,428,780 over the last quarter. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Van ECK Associates Corp acquired a new stake in NuScale Power in the 2nd quarter worth about $7,600,000. Charles Schwab Investment Management Inc. boosted its stake in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Geode Capital Management LLC increased its position in shares of NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock worth $21,194,000 after purchasing an additional 317,285 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in NuScale Power in the 3rd quarter valued at $2,895,000. Finally, State Street Corp lifted its holdings in NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company's stock valued at $19,396,000 after purchasing an additional 154,368 shares in 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.