NuScale Power (NYSE:SMR) Shares Gap Up – Time to Buy?

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $23.24, but opened at $24.28. NuScale Power shares last traded at $25.73, with a volume of 3,694,105 shares trading hands.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Craig Hallum boosted their price target on 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 NuScale Power in a report 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 assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company’s 50 day moving average price is $15.17 and its 200-day moving average price is $11.24. The company has a market capitalization of $6.15 billion, a PE ratio of -25.97 and a beta of 1.12. The company has a current ratio of 2.24, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26.

Insider Activity

In related news, insider Robert K. Temple sold 5,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $134,496.78. This represents a 26.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’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 sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 25.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 428,293 shares of company stock valued at $5,679,222 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. SG Americas Securities LLC grew its stake in shares of NuScale Power by 268.3% during the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after acquiring an additional 39,171 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of NuScale Power during the first quarter valued at about $58,000. Resurgent Financial Advisors LLC grew its stake in shares of NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after acquiring an additional 7,400 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock valued at $106,000 after acquiring an additional 4,014 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of NuScale Power during the first quarter valued at about $98,000. 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.