NuScale Power (NYSE:SMR) Trading Up 1.5% – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s stock price was up 1.5% during trading on Tuesday . The company traded as high as $20.22 and last traded at $20.03. Approximately 2,500,041 shares changed hands during trading, a decline of 62% from the average daily volume of 6,548,047 shares. The stock had previously closed at $19.73.

Wall Street Analysts Forecast Growth

Several equities 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 stock a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

The company has a 50 day moving average of $22.48 and a 200 day moving average of $14.63. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -22.12 and a beta of 1.33. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity

In other news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction 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 completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction 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 transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 277,610 shares of company stock valued at $4,428,780 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

A number of hedge funds have recently made changes to their positions in the company. Franklin Resources Inc. acquired a new position in shares of NuScale Power in the third quarter worth about $555,000. Tidal Investments LLC bought a new stake in shares of NuScale Power in the third quarter worth $118,000. Barclays PLC raised its holdings in NuScale Power by 472.3% in the third quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after acquiring an additional 124,441 shares in the last quarter. Geode Capital Management LLC grew its holdings in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares in the last quarter. Finally, State Street Corp increased its position in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Hedge funds and other 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.