NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume

NuScale Power Co. (NYSE:SMR) saw strong trading volume on Thursday . 3,374,632 shares traded 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.

Wall Street Analyst Weigh In

SMR has been the subject of a number of research reports. Canaccord Genuity Group assumed coverage on NuScale Power in a report on Monday, January 29th. They set a “buy” rating and a $4.25 target price for the company. Canaccord Genuity Group upped their price objective on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. 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 research note on Tuesday, March 19th. Finally, UBS Group raised their target price on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $7.75.

NuScale Power Trading Down 8.3 %

The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -6.68 and a beta of 0.90. The stock has a fifty day moving average price of $3.77 and a 200 day moving average price of $3.74.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.06% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently modified their holdings of SMR. BlackRock Inc. lifted its position in shares of NuScale Power by 63.8% in the 2nd quarter. BlackRock Inc. now owns 3,167,555 shares of the company’s stock worth $21,539,000 after acquiring an additional 1,233,898 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in NuScale Power by 54.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company’s stock valued at $15,774,000 after purchasing an additional 1,132,131 shares during the last quarter. Macquarie Group Ltd. bought a new position in NuScale Power in the 2nd quarter valued at $10,090,000. FMR LLC raised its position in NuScale Power by 55.0% in the 1st quarter. FMR LLC now owns 2,405,757 shares of the company’s stock valued at $21,868,000 after purchasing an additional 853,569 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of NuScale Power by 68.3% in the 2nd quarter. Geode Capital Management LLC now owns 865,610 shares of the company’s stock valued at $5,886,000 after buying an additional 351,171 shares during the period. Institutional investors own 15.28% of the company’s stock.

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.