NuScale Power (NYSE:SMR) Trading 8.5% Higher – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s share price was up 8.5% during mid-day trading on Monday . The company traded as high as $23.23 and last traded at $22.01. Approximately 11,071,596 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 7,715,323 shares. The stock had previously closed at $20.28.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note 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 given a buy rating to the company. 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 Stock Performance

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 stock has a 50 day simple moving average of $22.77 and a 200 day simple moving average of $16.00. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of -23.17 and a beta of 1.47.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power in the third quarter worth $44,000. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC increased its stake in 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 during the period. Victory Capital Management Inc. bought a new stake in shares of NuScale Power during the 3rd quarter worth about $116,000. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of NuScale Power in the 3rd quarter worth approximately $117,000. 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.