NuScale Power (NYSE:SMR) Stock Price Up 0.8% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price traded up 0.8% on Friday . The stock traded as high as $15.48 and last traded at $14.96. 2,030,683 shares traded hands during mid-day trading, a decline of 75% from the average session volume of 8,152,221 shares. The stock had previously closed at $14.85.

Analyst Ratings Changes

Several research analysts recently issued reports on SMR shares. BTIG Research started coverage on shares of NuScale Power in a research note on Friday. They set a "buy" rating and a $20.00 target price on the stock. UBS Group reduced their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, NuScale Power presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.60.

NuScale Power Price Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business's 50 day simple moving average is $17.92 and its two-hundred day simple moving average is $19.94. The stock has a market capitalization of $4.35 billion, a P/E ratio of -16.20 and a beta of 1.64.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the sale, the vice president now directly owns 1,149 shares of the company's stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the company'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 completion of 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. In the last ninety days, insiders sold 89,114 shares of company stock valued at $1,351,231. Corporate insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes 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 grew its holdings in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp raised its position in shares of NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock valued at $38,000 after buying an additional 1,800 shares in the last quarter. Twin Tree Management LP bought a new stake in NuScale Power during the fourth quarter worth about $42,000. Finally, Amalgamated Bank lifted its position in NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock worth $52,000 after buying an additional 986 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.