NuScale Power (NYSE:SMR) Trading Up 7% – Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR) were up 7% during mid-day trading on Wednesday . The stock traded as high as $26.63 and last traded at $26.60. Approximately 3,651,908 shares traded hands during trading, a decline of 43% from the average daily volume of 6,404,197 shares. The stock had previously closed at $24.87.

Analyst Ratings Changes

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

NuScale Power Stock Down 0.3 %

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’s 50-day moving average is $19.82 and its two-hundred day moving average is $13.24. The company has a market cap of $6.33 billion, a P/E ratio of -28.00 and a beta of 1.33.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the sale, the insider now directly owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 427,237 shares of company stock worth $6,053,065 in the last three months. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the 3rd quarter worth approximately $44,000. US Bancorp DE purchased a new stake in shares of NuScale Power during the third quarter valued at $54,000. CWM LLC increased its position in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of NuScale Power during the 2nd quarter valued at about $64,000. Finally, TFC Financial Management Inc. acquired a new stake in NuScale Power in the 2nd quarter valued at approximately $75,000. 15.28% of the stock is owned by institutional investors and hedge funds.

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.