NuScale Power (NYSE:SMR) Trading 8.5% Higher – Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR) shot up 8.5% during trading on Monday . The company traded as high as $23.23 and last traded at $22.01. 11,071,596 shares changed hands during mid-day trading, an increase of 44% from the average session volume of 7,715,323 shares. The stock had previously closed at $20.28.

Wall Street Analyst Weigh In

Separately, Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 16.2 %

The business’s fifty day moving average is $22.79 and its two-hundred day moving average is $16.16. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.48 million during the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same quarter in the previous year, the firm earned ($0.26) earnings per share.

Insider Transactions at NuScale Power

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 value 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. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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 bought and sold shares of SMR. Toth Financial Advisory Corp raised its position in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after purchasing an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power during the 3rd quarter worth approximately $44,000. US Bancorp DE acquired a new stake in NuScale Power during the 3rd quarter worth approximately $54,000. CWM LLC raised its stake in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of NuScale Power during the 3rd quarter worth approximately $116,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.