NuScale Power (NYSE:SMR) Shares Up 6.5% – Should You Buy?

NuScale Power Co. (NYSE:SMR) shot up 6.5% during trading on Wednesday . The company traded as high as $21.05 and last traded at $21.01. 5,321,488 shares traded hands during trading, a decline of 19% from the average session volume of 6,562,179 shares. The stock had previously closed at $19.73.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in 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 boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Up 3.9 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $22.74 and its two-hundred day moving average is $14.81. The stock has a market cap of $5.57 billion, a price-to-earnings ratio of -22.97 and a beta of 1.33.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,610 shares of company stock worth $3,528,780. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power in the third quarter worth $44,000. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC increased its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth about $64,000. Finally, Quest Partners LLC acquired a new stake in shares of NuScale Power in the 2nd quarter worth approximately $115,000. 78.37% of the stock is currently 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.