NuScale Power (NYSE:SMR) Trading 11.9% Higher – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price rose 11.9% on Tuesday . The company traded as high as $24.98 and last traded at $24.59. Approximately 6,602,411 shares were traded during mid-day trading, a decline of 23% from the average daily volume of 8,551,002 shares. The stock had previously closed at $21.97.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Up 15.0 %

The stock’s 50 day moving average is $22.74 and its two-hundred day moving average is $16.07. 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 company has a market capitalization of $6.45 billion, a PE ratio of -26.69 and a beta of 1.47.

Insider Activity

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction 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 sale, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after buying an additional 317,285 shares during the period. State Street Corp grew its holdings in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after buying an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after acquiring an additional 460,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NuScale Power by 57.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after acquiring an additional 128,012 shares during the period. Institutional investors and hedge funds 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.