NuScale Power (NYSE:SMR) Stock Price Up 3.4% – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s stock price shot up 3.4% during trading on Friday . The company traded as high as $29.48 and last traded at $28.62. 3,555,525 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 6,274,443 shares. The stock had previously closed at $27.67.

Wall Street Analysts Forecast Growth

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

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $7.76 billion, a P/E ratio of -31.31 and a beta of 1.12. The company’s 50 day simple moving average is $16.98 and its two-hundred day simple moving average is $11.94.

Insider Activity

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 25.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 428,293 shares of company stock worth $5,679,222 over the last quarter. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Canal Insurance CO boosted its position in NuScale Power by 35.0% in the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Van ECK Associates Corp lifted its holdings in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the last quarter. Avantax Advisory Services Inc. purchased a new position in shares of NuScale Power during the 1st quarter valued at $58,000. International Assets Investment Management LLC lifted its position in NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after acquiring an additional 109,142 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of NuScale Power by 244.7% during the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after purchasing an additional 131,570 shares during the period. Hedge funds and other institutional investors own 15.28% 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.