NuScale Power (NYSE:SMR) Trading Up 3.4% – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) rose 3.4% on Friday . The company traded as high as $29.48 and last traded at $28.62. Approximately 3,555,525 shares changed hands during trading, a decline of 43% from the average daily volume of 6,274,443 shares. The stock had previously closed at $27.67.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. Craig Hallum upped their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 9.2 %

The firm’s 50-day simple moving average is $17.40 and its 200 day simple moving average is $12.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a market capitalization of $7.71 billion, a P/E ratio of -31.80 and a beta of 1.12.

Insider Buying and Selling

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

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter worth approximately $44,000. US Bancorp DE bought a new stake in NuScale Power in the 3rd quarter valued at $54,000. CWM LLC lifted its holdings 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 purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter worth $64,000. Finally, TFC Financial Management Inc. acquired a new position in shares of NuScale Power in the second quarter valued at $75,000. 15.28% of the stock is owned by institutional investors.

About NuScale Power

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.