NuScale Power (NYSE:SMR) Stock Price Up 10% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price was up 10% on Monday . The company traded as high as $23.16 and last traded at $22.94. Approximately 6,478,670 shares changed hands during mid-day trading, a decline of 13% from the average daily volume of 7,489,361 shares. The stock had previously closed at $20.85.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SMR. Craig Hallum increased their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 9.1 %

The stock has a market capitalization of $5.04 billion, a PE ratio of -20.78 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The business’s fifty day moving average price is $22.84 and its two-hundred day moving average price is $15.49.

Insider Activity

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 798,620 shares of company stock valued at $14,624,962. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SMR. Bank of New York Mellon Corp boosted its stake in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares in the last quarter. Principal Financial Group Inc. purchased a new position in NuScale Power during the second quarter worth approximately $123,000. Commonwealth Equity Services LLC grew its holdings in NuScale Power by 85.9% in the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after purchasing an additional 36,236 shares during the period. Rhumbline Advisers increased its position in shares of NuScale Power by 62.9% in the second quarter. Rhumbline Advisers now owns 104,341 shares of the company’s stock valued at $1,220,000 after buying an additional 40,305 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of NuScale Power during the 2nd quarter worth approximately $115,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.