NuScale Power (NYSE:SMR) Stock Price Up 3.4% – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s stock price rose 3.4% on Friday . The stock traded as high as $29.48 and last traded at $28.62. Approximately 3,555,525 shares changed hands during trading, a decline of 43% from the average daily volume of 6,274,443 shares. The stock had previously closed at $27.67.

Analyst Ratings Changes

A number of brokerages have commented on SMR. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum upped their price target 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 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 company. According to data from MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Up 9.2 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of -31.80 and a beta of 1.12. The firm has a fifty day moving average price of $17.40 and a 200-day moving average price of $12.16.

Insider Buying and Selling

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at $460,294.38. The trade was a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 144,627 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $153,188.60. This trade represents a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 428,293 shares of company stock valued at $5,679,222 over the last quarter. 1.96% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of NuScale Power in the 1st quarter valued at approximately $18,585,000. Geode Capital Management LLC increased its holdings 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 in the last quarter. State Street Corp lifted its stake in shares of 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 during the last quarter. Van ECK Associates Corp lifted its stake in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 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 last quarter. Institutional investors and hedge funds own 15.28% 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.