NuScale Power (NYSE:SMR) Sees Large Volume Increase

NuScale Power Co. (NYSE:SMR - Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,253,754 shares were traded during mid-day trading, a decline of 36% from the previous session's volume of 1,953,949 shares.The stock last traded at $4.13 and had previously closed at $3.90.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of recent analyst reports. Canaccord Genuity Group initiated coverage on shares of NuScale Power in a research note on Monday, January 29th. They set a "buy" rating and a $4.25 price target on the stock. Canaccord Genuity Group began coverage on shares of NuScale Power in a research note on Monday, January 29th. They issued a "buy" rating and a $4.25 price objective for the company. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $8.50.

NuScale Power Price Performance

The stock has a 50-day simple moving average of $2.77 and a 200-day simple moving average of $3.77. The stock has a market cap of $1.01 billion, a PE ratio of -5.71 and a beta of 0.90.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new position in NuScale Power during the 2nd quarter worth $92,000. Rhumbline Advisers acquired a new position in NuScale Power during the 2nd quarter worth $236,000. Northern Trust Corp acquired a new stake in shares of NuScale Power during the second quarter worth $1,436,000. American International Group Inc. bought a new position in shares of NuScale Power in the 2nd quarter worth about $80,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of NuScale Power in the 2nd quarter valued at about $165,000. Hedge funds and other institutional investors own 10.67% 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.

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