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Recent Insider Activity Suggests Potential Gains for NuScale Power Corporation (SMR)

NuScale Power Corporation’s recent filing unveils that its Retired Temple Robert K unloaded Company’s shares for reported $0.5 million on Aug 13 ’24. In the deal valued at $10.03 per share,50,000 shares were sold. As a result of this transaction, Temple Robert K now holds 19,054 shares worth roughly $0.17 million.

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Then, Temple Robert K sold 50,000 shares, generating $500,000 in total proceeds. Upon selling the shares at $10.00, the Retired now owns 19,054 shares.

Before that, Temple Robert K bought 50,000 shares. NuScale Power Corporation shares valued at $500,018 were divested by the Former Officer at a price of $10.00 per share.

Wells Fargo downgraded its NuScale Power Corporation [SMR] rating to an Underweight from a an Equal weight in a research note published on March 19, 2024; the price target was decreased to $4.50 from $7.50. A number of analysts have revised their coverage, including Canaccord Genuity’s analysts, who began to cover the stock in late January with a ‘”a Buy”‘ rating. B. Riley Securities began covering SMR with “Buy” recommendation on October 13, 2023. UBS started covering the stock on October 25, 2022. It rated SMR as “a Neutral”.

Price Performance Review of SMR

On Friday, NuScale Power Corporation [NYSE:SMR] saw its stock jump 7.97% to $8.67. Over the last five days, the stock has lost -4.52%. NuScale Power Corporation shares have risen nearly 163.53% since the year began. Nevertheless, the stocks have risen 42.13% over the past one year. While a 52-week high of $16.91 was reached on 07/15/24, a 52-week low of $1.81 was recorded on 01/18/24. SMA at 50 days reached $10.60, while 200 days put it at $5.98.

Levels Of Support And Resistance For SMR Stock

The 24-hour chart illustrates a support level at 8.19, which if violated will result in even more drops to 7.70. On the upside, there is a resistance level at 8.98. A further resistance level may holdings at 9.28. The Relative Strength Index (RSI) on the 14-day chart is 43.31, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 66.74%. Stochastics%K at 36.51% indicates the stock is a holding.

How much short interest is there in NuScale Power Corporation?

A steep rise in short interest was recorded in NuScale Power Corporation stocks on 2024-07-31, growing by 2.75 million shares to a total of 17.69 million shares. Yahoo Finance data shows the prior-month short interest on 2024-06-28 was 14.93 million shares. There was a rise of 15.56%, which implies that there is a positive sentiment for the stock.

The most recent change occurred on August 25, 2022 when Wells Fargo began covering the stock and recommended ‘”an Equal weight”‘ rating along with a $17 price target.

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