NuScale Power (NYSE:SMR) Trading Up 11.9% – Still a Buy?

NuScale Power Co. (NYSE:SMR)’s stock price was up 11.9% during mid-day trading on Friday . The company traded as high as $19.87 and last traded at $19.81. Approximately 4,028,439 shares were traded during trading, a decline of 23% from the average daily volume of 5,233,892 shares. The stock had previously closed at $17.71.

Analysts Set New Price Targets

A number of research firms have recently commented on SMR. Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Up 17.7 %

The company has a market capitalization of $5.32 billion, a P/E ratio of -21.95 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm’s fifty day moving average is $22.80 and its 200-day moving average is $15.27.

Insiders Place Their Bets

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the company’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 owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power in the third quarter valued at $44,000. US Bancorp DE acquired a new position in NuScale Power during the 3rd quarter valued at about $54,000. CWM LLC increased its holdings in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares in the last quarter. Quest Partners LLC bought a new position in shares of NuScale Power in the second quarter valued at approximately $115,000. Finally, Victory Capital Management Inc. purchased a new position in shares of NuScale Power during the third quarter valued at approximately $116,000. 78.37% 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.