NuScale Power (NYSE:SMR) Trading Up 1% – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s stock price traded up 1% on Thursday . The stock traded as high as $18.80 and last traded at $18.11. 2,421,475 shares traded hands during trading, a decline of 63% from the average session volume of 6,590,206 shares. The stock had previously closed at $17.93.

Analyst Upgrades and Downgrades

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

NuScale Power Stock Up 17.7 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.32 billion, a P/E ratio of -21.95 and a beta of 1.33. The company has a fifty day simple moving average of $22.80 and a 200-day simple moving average of $15.23.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated 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 directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after acquiring an additional 111,812 shares during the last quarter. Franklin Resources Inc. acquired a new stake in NuScale Power during the 3rd quarter worth about $555,000. Tidal Investments LLC purchased a new position in shares of NuScale Power during the 3rd quarter valued at about $118,000. Barclays PLC lifted its holdings in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after buying an additional 124,441 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after buying an additional 317,285 shares during the last quarter. 78.37% of the stock is currently owned by hedge funds and other 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.