NuScale Power (NYSE:SMR) Sets New 12-Month High – Should You Buy?

NuScale Power Co. (NYSE:SMR) shares reached a new 52-week high during trading on Friday . The stock traded as high as $29.52 and last traded at $28.84, with a volume of 1497022 shares changing hands. The stock had previously closed at $27.67.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SMR. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. Craig Hallum lifted 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 equities 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 company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Up 9.2 %

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 company has a 50 day simple moving average of $17.40 and a two-hundred day simple moving average of $12.16. The company has a market capitalization of $7.71 billion, a P/E ratio of -31.80 and a beta of 1.12.

Insider Activity

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was a 25.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in NuScale Power in the 3rd quarter worth about $44,000. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter worth about $54,000. CWM LLC increased its position in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC purchased a new stake in shares of NuScale Power in the second quarter valued at approximately $64,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of NuScale Power in the second quarter valued at approximately $75,000. 15.28% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

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.