NuScale Power (NYSE:SMR) Shares Up 2.8% – Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR) rose 2.8% during trading on Tuesday . The stock traded as high as $26.55 and last traded at $24.14. Approximately 7,387,019 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 6,079,378 shares. The stock had previously closed at $23.49.

Wall Street Analyst Weigh In

SMR has been the topic of several research reports. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum increased their price target on shares of 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 assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The stock’s 50-day moving average is $14.83 and its 200-day moving average is $11.15. The stock has a market cap of $6.14 billion, a price-to-earnings ratio of -26.13 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.66.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,293 shares of company stock valued at $5,679,222 over the last quarter. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the 3rd quarter worth $44,000. US Bancorp DE purchased a new stake in NuScale Power during the 3rd quarter worth $54,000. Avantax Advisory Services Inc. purchased a new stake in NuScale Power during the 1st quarter worth $58,000. 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 worth $61,000 after buying an additional 5,191 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in NuScale Power during the 2nd quarter worth $64,000. 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.