NuScale Power (NYSE:SMR) Stock Price Up 6.5% – Still a Buy?

NuScale Power Co. (NYSE:SMR)’s share price traded up 6.5% on Thursday . The stock traded as high as $28.42 and last traded at $28.06. 10,872,091 shares were traded during mid-day trading, an increase of 71% from the average session volume of 6,362,766 shares. The stock had previously closed at $26.34.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SMR. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the stock 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Up 5.8 %

The firm has a 50-day moving average of $18.85 and a two-hundred day moving average of $12.72. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $7.58 billion, a P/E ratio of -31.21 and a beta of 1.12.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 144,627 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the sale, the insider now owns 14,054 shares in the company, valued at $153,188.60. The trade was a 91.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 409,051 shares of company stock valued at $5,525,671 in the last quarter. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Canal Insurance CO boosted its position in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after buying an additional 56,000 shares during the period. Van ECK Associates Corp lifted its holdings in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after purchasing an additional 585,292 shares during the period. International Assets Investment Management LLC grew its stake in shares of NuScale Power by 1,984.4% in the third quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after purchasing an additional 109,142 shares during the last quarter. SG Americas Securities LLC increased its holdings in NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after purchasing an additional 131,570 shares during the period. Finally, Brookstone Capital Management bought a new position in NuScale Power during the 2nd quarter worth $126,000. 15.28% 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.