NuScale Power (NYSE:SMR) Stock Price Up 13.2% – Should You Buy?

NuScale Power Co. (NYSE:SMR) traded up 13.2% on Friday . The company traded as high as $32.30 and last traded at $31.77. 7,175,340 shares were traded during mid-day trading, an increase of 13% from the average session volume of 6,363,664 shares. The stock had previously closed at $28.06.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SMR shares. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Up 6.6 %

The stock’s 50 day moving average is $18.49 and its 200-day moving average is $12.61. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $7.64 billion, a P/E ratio of -33.44 and a beta of 1.12.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 409,051 shares of company stock valued at $5,525,671. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Canal Insurance CO increased its holdings in shares of NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Van ECK Associates Corp lifted its stake in NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock valued at $1,328,000 after acquiring an additional 109,142 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after acquiring an additional 131,570 shares during the period. Finally, Brookstone Capital Management purchased a new position in shares of NuScale Power during the second quarter valued at approximately $126,000. 15.28% of the stock is owned by institutional investors.

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.