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

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Monday . The stock had previously closed at $18.13, but opened at $18.98. NuScale Power shares last traded at $18.77, with a volume of 1,221,194 shares.

Analyst Ratings Changes

Separately, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

NuScale Power Trading Down 1.1 %

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’s 50-day moving average is $20.67 and its 200-day moving average is $19.47. The stock has a market capitalization of $5.27 billion, a price-to-earnings ratio of -19.65 and a beta of 1.58.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now owns 29,985 shares in the company, valued at $470,764.50. This represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock worth $12,840,747 in the last 90 days. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. CoreCap Advisors LLC acquired a new position in shares of NuScale Power in the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC boosted its position in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after buying an additional 1,500 shares during the period. Toth Financial Advisory Corp grew its stake in shares of NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after buying an additional 1,800 shares in the last quarter. Twin Tree Management LP purchased a new stake in shares of NuScale Power in the 4th quarter valued at $42,000. Finally, Amalgamated Bank raised its holdings in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares during the period. 78.37% of the stock is currently 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.