NuScale Power (NYSE:SMR) Shares Up 8.3% – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s stock price was up 8.3% on Wednesday . The stock traded as high as $21.34 and last traded at $20.83. Approximately 3,198,064 shares were traded during trading, a decline of 62% from the average daily volume of 8,396,623 shares. The stock had previously closed at $19.23.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report 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 stock. According to MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market cap of $5.17 billion, a price-to-earnings ratio of -21.32 and a beta of 1.47. The company has a 50-day simple moving average of $22.86 and a two-hundred day simple moving average of $15.79.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s 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 completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Catalina Capital Group LLC grew its holdings in NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after buying an additional 809 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares during the period. Indie Asset Partners LLC lifted its position in shares of NuScale Power by 7.1% during the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after acquiring an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power during the 3rd quarter valued at $44,000. Finally, US Bancorp DE bought a new stake in shares of NuScale Power during the 3rd quarter valued at $54,000. 78.37% 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.