NuScale Power (NYSE:SMR) Trading 2.3% Higher – Here’s What Happened

NuScale Power Corporation (NYSE:SMRGet Free Report) was up 2.3% on Friday . The stock traded as high as $14.77 and last traded at $14.31. Approximately 23,304,210 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 30,215,645 shares. The stock had previously closed at $13.99.

Key Stories Impacting NuScale Power

Here are the key news stories impacting NuScale Power this week:

Analyst Ratings Changes

Several brokerages recently commented on SMR. B. Riley Financial decreased their price objective on shares of NuScale Power from $38.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 22nd. TD Cowen lowered shares of NuScale Power from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup reiterated a “sell” rating and set a $37.50 price objective (down from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. Cantor Fitzgerald started coverage on shares of NuScale Power in a report on Tuesday, October 21st. They set an “overweight” rating and a $55.00 price objective on the stock. Finally, Royal Bank Of Canada set a $21.00 target price on NuScale Power in a research report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $33.19.

Get Our Latest Analysis on SMR

NuScale Power Stock Up 2.3%

The firm has a market cap of $4.27 billion, a price-to-earnings ratio of -5.00 and a beta of 2.14. The business’s 50-day simple moving average is $17.90 and its two-hundred day simple moving average is $29.57.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 40,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $22.17, for a total transaction of $886,800.00. Following the transaction, the chief financial officer owned 46,283 shares in the company, valued at $1,026,094.11. This trade represents a 46.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.20% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Van ECK Associates Corp lifted its stake in NuScale Power by 117.8% in the 4th quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock valued at $163,176,000 after buying an additional 6,227,747 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of NuScale Power by 40.5% during the fourth quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock valued at $220,273,000 after acquiring an additional 4,482,254 shares during the last quarter. Clear Street Group Inc. purchased a new position in shares of NuScale Power in the third quarter valued at approximately $155,616,000. Samsung C&T Corp boosted its stake in shares of NuScale Power by 98.9% in the third quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock worth $186,689,000 after acquiring an additional 2,578,702 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of NuScale Power by 81.0% during the fourth quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after purchasing an additional 2,361,532 shares in the last quarter. Hedge funds and other institutional investors own 78.37% of the company’s stock.

About NuScale Power

(Get Free Report)

NuScale Power Corporation, trading on the NYSE American under the ticker SMR, is a pioneering developer of small modular nuclear reactors. Established in 2007 as a spinout from Oregon State University, the company is headquartered in Portland, Oregon. NuScale’s mission is to deliver zero-carbon baseload power through scalable modular reactor technology, aiming to transform traditional nuclear energy deployment.

At the core of NuScale’s offering is the VOYGR small modular reactor design, featuring 77-megawatt electric (MWe) modules with passive safety systems.

Further Reading

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