NuScale Power (NYSE:SMR) Shares Gap Up – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Thursday . The stock had previously closed at $17.93, but opened at $18.57. NuScale Power shares last traded at $18.28, with a volume of 1,545,194 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The company has a 50-day moving average of $22.77 and a 200-day moving average of $15.13. 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 firm has a market capitalization of $4.60 billion, a price-to-earnings ratio of -18.95 and a beta of 1.33.

Insider Activity

In other news, insider Robert K. Temple sold 68,558 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. This trade represents a 82.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, 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 202,610 shares of company stock worth $3,528,780 over the last quarter. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its holdings in NuScale Power by 204.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after purchasing an additional 111,812 shares during the period. Franklin Resources Inc. acquired a new position in NuScale Power in the 3rd quarter valued at $555,000. Tidal Investments LLC bought a new stake in shares of NuScale Power during the 3rd quarter valued at $118,000. Barclays PLC grew its holdings in shares of NuScale Power by 472.3% during the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock worth $1,746,000 after purchasing an additional 124,441 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares during the period. 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.