NuScale Power Corporation's stock surged 5.01% in pre-market trading on Thursday.

The pre-market advance followed HSBC's initiation of coverage on the nuclear energy technology company with a Hold rating and a $13 price target. According to analyst data, NuScale Power has an average rating of Hold and a mean price target of $17.81.

Concurrently, Fluor Corporation completed the sale of its remaining 40 million shares in NuScale Power, generating gross proceeds of $473 million. The completion of this transaction removes a significant block of shares that had been held by a major investor.