NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume – Still a Buy?

NuScale Power Co. (NYSE:SMR) shares saw an uptick in trading volume on Friday . 3,838,849 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 5,625,464 shares.The stock last traded at $18.93 and had previously closed at $18.39.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SMR shares. Craig Hallum raised their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 0.1 %

The firm has a market cap of $4.47 billion, a price-to-earnings ratio of -21.66 and a beta of 1.25. The business’s 50-day moving average is $11.43 and its 200-day moving average is $9.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same period in the prior year, the company posted ($0.13) earnings per share.

Insider Activity at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 490,595 shares of company stock valued at $6,287,356 in the last three months. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently made changes to their positions in the company. Avantax Advisory Services Inc. acquired a new stake in NuScale Power in the first quarter worth about $58,000. SG Americas Securities LLC boosted its stake in shares of NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after purchasing an additional 39,171 shares during the last quarter. Van ECK Associates Corp acquired a new stake in shares of NuScale Power during the 2nd quarter worth approximately $7,600,000. Brookstone Capital Management acquired a new stake in shares of NuScale Power during the 2nd quarter worth approximately $126,000. Finally, Truist Financial Corp bought a new stake in shares of NuScale Power during the second quarter worth approximately $177,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.