NuScale Power (NYSE:SMR) Stock Price Up 10% – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) traded up 10% on Monday . The stock traded as high as $23.16 and last traded at $22.94. 6,478,670 shares traded hands during mid-day trading, a decline of 13% from the average session volume of 7,489,361 shares. The stock had previously closed at $20.85.

Analyst Ratings Changes

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

NuScale Power Price Performance

The firm has a 50 day moving average price of $22.80 and a two-hundred day moving average price of $15.31. The company has a market cap of $6.05 billion, a P/E ratio of -24.93 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated 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 completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. JPMorgan Chase & Co. increased its position in shares of NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of NuScale Power during the 3rd quarter valued at about $555,000. Tidal Investments LLC bought a new stake in NuScale Power in the 3rd quarter worth approximately $118,000. Barclays PLC boosted its stake in NuScale Power by 472.3% in the third quarter. Barclays PLC now owns 150,791 shares of the company’s stock worth $1,746,000 after buying an additional 124,441 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in NuScale Power by 21.0% in the 3rd 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. 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.