NuScale Power (NYSE:SMR) Trading Up 4.1% – Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR) traded up 4.1% during mid-day trading on Friday . The company traded as high as $20.10 and last traded at $19.78. Approximately 3,479,134 shares were traded during mid-day trading, a decline of 47% from the average session volume of 6,544,353 shares. The stock had previously closed at $19.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. CLSA assumed coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum increased their price objective 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

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 stock has a fifty day moving average of $22.23 and a 200-day moving average of $14.36. The stock has a market capitalization of $5.13 billion, a price-to-earnings ratio of -21.13 and a beta of 1.33.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction 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 directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction dated 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 directly owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 277,610 shares of company stock valued at $4,428,780 in the last ninety days. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter worth about $44,000. US Bancorp DE purchased a new position in NuScale Power in the 3rd quarter valued at approximately $54,000. CWM LLC boosted its position in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in NuScale Power in the second quarter valued at $64,000. Finally, Quest Partners LLC purchased a new position in shares of NuScale Power in the second quarter valued at $115,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.