NuScale Power (NYSE:SMR) Trading 4.6% Higher – Time to Buy?

NuScale Power Co. (NYSE:SMR) shares traded up 4.6% on Friday . The company traded as high as $19.47 and last traded at $19.24. 5,789,481 shares were traded during mid-day trading, an increase of 3% from the average session volume of 5,638,771 shares. The stock had previously closed at $18.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Craig Hallum lifted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

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

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) 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 analysts’ expectations of $1.43 million. During the same period last year, the firm earned ($0.13) EPS.

Insider Buying and Selling

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated 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 owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock valued at $6,287,356 in the last quarter. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of NuScale Power in the 3rd quarter valued at about $170,000. International Assets Investment Management LLC boosted its holdings in shares of NuScale Power by 1,984.4% in the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock valued at $1,328,000 after buying an additional 109,142 shares during the period. Private Advisor Group LLC boosted its stake in NuScale Power by 20.7% during the 3rd quarter. Private Advisor Group LLC now owns 35,470 shares of the company’s stock valued at $411,000 after purchasing an additional 6,071 shares during the period. Jade Capital Advisors LLC boosted its stake in NuScale Power by 33.3% during the 3rd quarter. Jade Capital Advisors LLC now owns 40,000 shares of the company’s stock valued at $463,000 after purchasing an additional 10,000 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in NuScale Power during the 3rd quarter valued at about $175,000. 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.