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 traded 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.

NuScale Power News Summary

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

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. BNP Paribas Exane downgraded NuScale Power from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $21.00 price target on shares of NuScale Power in a report on Tuesday, January 20th. Citigroup reaffirmed a “sell” rating and issued a $37.50 price target (down previously from $46.00) on shares of NuScale Power in a research note on Tuesday, October 21st. The Goldman Sachs Group reiterated a “neutral” rating and set a $20.00 price objective on shares of NuScale Power in a report on Wednesday, February 4th. Finally, Cantor Fitzgerald initiated coverage on shares of NuScale Power in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $55.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $33.19.

Read Our Latest Research Report on NuScale Power

NuScale Power Trading Up 2.3%

The firm has a 50-day simple moving average of $17.90 and a 200-day simple moving average of $29.57. The firm has a market cap of $4.27 billion, a P/E ratio of -5.00 and a beta of 2.14.

Insiders Place Their Bets

In other NuScale Power news, CFO Robert Ramsey Hamady sold 40,000 shares of NuScale Power stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $22.17, for a total value of $886,800.00. Following the transaction, the chief financial officer owned 46,283 shares in the company, valued at $1,026,094.11. The trade was a 46.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 have recently modified their holdings of SMR. Vanguard Group Inc. raised its stake in shares of NuScale Power by 40.5% during the 4th quarter. Vanguard Group Inc. now owns 15,545,018 shares of the company’s stock worth $220,273,000 after acquiring an additional 4,482,254 shares in the last quarter. Van ECK Associates Corp increased its position in shares of NuScale Power by 117.8% during the fourth quarter. Van ECK Associates Corp now owns 11,515,561 shares of the company’s stock worth $163,176,000 after purchasing an additional 6,227,747 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of NuScale Power by 22.6% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,310,961 shares of the company’s stock worth $263,195,000 after purchasing an additional 1,346,796 shares in the last quarter. Morgan Stanley grew its stake in NuScale Power by 81.0% during the 4th quarter. Morgan Stanley now owns 5,277,905 shares of the company’s stock worth $74,788,000 after buying an additional 2,361,532 shares during the last quarter. Finally, Samsung C&T Corp increased its position in NuScale Power by 98.9% during the 3rd quarter. Samsung C&T Corp now owns 5,185,804 shares of the company’s stock valued at $186,689,000 after buying an additional 2,578,702 shares in the last quarter. 78.37% of the stock is currently owned by institutional investors.

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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