NuScale Power (NYSE:SMR) Shares Gap Up – Still a Buy?

NuScale Power Co. (NYSE:SMR)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $15.98, but opened at $16.34. NuScale Power shares last traded at $15.41, with a volume of 533,665 shares trading hands.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, NuScale Power presently has a consensus rating of “Moderate Buy” and an average target price of $12.58.

NuScale Power Price Performance

The stock has a market cap of $4.48 billion, a price-to-earnings ratio of -18.46 and a beta of 1.58. The stock’s 50 day moving average price is $21.00 and its two-hundred day moving average price is $18.81. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Transactions at NuScale Power

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the sale, the chief financial officer now owns 29,985 shares in the company, valued at approximately $470,764.50. This represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock worth $12,840,747 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC purchased a new position in NuScale Power during the fourth quarter valued at $33,000. Venturi Wealth Management LLC lifted its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in shares of NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after buying an additional 1,800 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of NuScale Power in the fourth quarter worth about $42,000. Finally, Amalgamated Bank increased its position in NuScale Power by 51.8% during the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after purchasing an additional 986 shares during the last quarter. 78.37% of the stock is 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.