NuScale Power (NYSE:SMR) Trading Up 12.4%

NuScale Power Co. (NYSE:SMR - Get Free Report) was up 12.4% during mid-day trading on Monday . The company traded as high as $6.11 and last traded at $5.97. Approximately 2,234,921 shares changed hands during trading, a decline of 46% from the average daily volume of 4,135,827 shares. The stock had previously closed at $5.31.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on SMR shares. Wells Fargo & Company reissued an "underweight" rating and issued a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. UBS Group raised their price target on shares of NuScale Power from $2.00 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on shares of NuScale Power in a report on Monday, January 29th. They issued a "buy" rating and a $4.25 price target on the stock. Finally, Canaccord Genuity Group increased their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $7.75.

NuScale Power Stock Performance

The firm has a market capitalization of $1.23 billion, a P/E ratio of -6.56 and a beta of 1.06. The stock has a fifty day moving average price of $3.96 and a two-hundred day moving average price of $3.70.

Insiders Place Their Bets

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.06% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. bought a new stake in shares of NuScale Power in the 2nd quarter worth $92,000. Rhumbline Advisers acquired a new stake in shares of NuScale Power in the second quarter worth about $236,000. Northern Trust Corp bought a new stake in shares of NuScale Power during the 2nd quarter worth $1,436,000. American International Group Inc. acquired a new stake in NuScale Power in the 2nd quarter valued at approximately $80,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in NuScale Power in the 2nd quarter worth $165,000. 15.28% 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.