NuScale Power (NYSE:SMR) Trading Up 1.5% – Still a Buy?

NuScale Power Co. (NYSE:SMR)’s share price was up 1.5% on Tuesday . The stock traded as high as $20.22 and last traded at $20.03. Approximately 2,500,041 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 6,548,047 shares. The stock had previously closed at $19.73.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SMR shares. CLSA started coverage on shares of NuScale Power in a research 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 report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 6.5 %

The firm has a market cap of $5.37 billion, a P/E ratio of -22.12 and a beta of 1.33. The business’s fifty day moving average price is $22.67 and its two-hundred day moving average price is $14.76. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred 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 transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,610 shares of company stock worth $3,528,780 over the last three months. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Van ECK Associates Corp bought a new position in NuScale Power in the 2nd quarter worth approximately $7,600,000. Charles Schwab Investment Management Inc. grew its stake in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Geode Capital Management LLC grew 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 acquiring an additional 317,285 shares during the last quarter. TimesSquare Capital Management LLC bought a new position in NuScale Power during the third quarter worth $2,895,000. Finally, State Street Corp raised its stake in NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. 78.37% of the stock is currently owned by 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.