NuScale Power (NYSE:SMR) Shares Up 8.3% – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s stock price shot up 8.3% on Wednesday . The company traded as high as $21.34 and last traded at $20.83. 3,198,064 shares traded hands during mid-day trading, a decline of 62% from the average session volume of 8,396,623 shares. The stock had previously closed at $19.23.

Wall Street Analyst Weigh In

Separately, 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 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 given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 5.3 %

The firm has a fifty day moving average price of $22.86 and a 200 day moving average price of $15.79. 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 cap of $5.17 billion, a P/E ratio of -21.32 and a beta of 1.47.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Van ECK Associates Corp boosted its holdings in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $21,194,000 after acquiring an additional 317,285 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in NuScale Power in the 3rd quarter valued at approximately $2,895,000. Finally, State Street Corp lifted its stake in NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after acquiring an additional 154,368 shares in the last quarter. Institutional investors own 78.37% of the company’s stock.

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.