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

NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Thursday . The stock had previously closed at $15.98, but opened at $16.34. NuScale Power shares last traded at $15.41, with a volume of 533,665 shares.

Wall Street Analysts Forecast Growth

Separately, UBS Group decreased their target price on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $12.58.

NuScale Power Price Performance

The company has a market capitalization of $4.48 billion, a PE ratio of -18.46 and a beta of 1.58. The firm has a fifty day moving average of $21.00 and a two-hundred day moving average of $18.81. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on 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 owns 34,675 shares of the company’s stock, valued at $625,537. This trade represents a 95.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in NuScale Power by 8.2% during the 4th quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock valued at $151,113,000 after purchasing an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NuScale Power by 1.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock valued at $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new stake in NuScale Power in the 4th quarter valued at about $46,745,000. Geode Capital Management LLC boosted its position in NuScale Power by 7.4% in the 4th quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock valued at $35,249,000 after buying an additional 135,613 shares during the period. Finally, Van ECK Associates Corp boosted its position in NuScale Power by 41.4% in the 4th quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock valued at $31,317,000 after buying an additional 511,168 shares during the period. Hedge funds and other 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.