NuScale Power (NYSE:SMR) Stock Price Up 6.5% – Time to Buy?

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. 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. Craig Hallum upped their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 6.5 %

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 market cap of $5.37 billion, a PE ratio of -22.12 and a beta of 1.33. The company’s fifty day moving average is $22.63 and its 200-day moving average is $14.72.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 68,558 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $182,983.08. The trade was a 82.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,610 shares of company stock valued at $3,528,780 over the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power in the 3rd quarter worth $44,000. US Bancorp DE bought a new position in shares of NuScale Power in the third quarter worth about $54,000. CWM LLC lifted its position in shares of 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 in the last quarter. International Assets Investment Management LLC purchased a new stake in NuScale Power in the 2nd quarter worth approximately $64,000. Finally, Quest Partners LLC bought a new stake in NuScale Power during the 2nd quarter worth approximately $115,000. Institutional investors own 78.37% of the company’s stock.

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.