NuScale Power (NYSE:SMR) Sees Large Volume Increase

NuScale Power Co. (NYSE:SMR) saw strong trading volume on Thursday . 3,374,632 shares changed hands during mid-day trading, a decline of 17% from the previous session’s volume of 4,052,650 shares.The stock last traded at $5.05 and had previously closed at $5.75.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective 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 assumed coverage on shares of NuScale Power in a research report on Monday, January 29th. They issued a “buy” rating and a $4.25 price objective on the stock. Canaccord Genuity Group boosted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 price target (down from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power has a consensus rating of “Hold” and an average price target of $7.75.

NuScale Power Price Performance

The company’s 50-day moving average is $3.77 and its 200-day moving average is $3.74. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -6.68 and a beta of 0.90.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total value of $251,025.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 3.06% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in the company. Global Retirement Partners LLC acquired a new position in shares of NuScale Power during the fourth quarter valued at $25,000. Ameritas Investment Partners Inc. raised its position in NuScale Power by 80.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock worth $30,000 after acquiring an additional 1,968 shares in the last quarter. Essex Private Wealth Management LLC bought a new stake in NuScale Power in the fourth quarter worth about $33,000. Sloy Dahl & Holst LLC acquired a new stake in NuScale Power during the 4th quarter worth about $33,000. Finally, Arizona State Retirement System acquired a new stake in NuScale Power during the 4th quarter worth about $34,000. Hedge funds and other institutional investors own 15.28% 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.