NuScale Power (NYSE:SMR) Shares Up 1.6% – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price shot up 1.6% on Monday . The stock traded as high as $19.69 and last traded at $18.50. 9,850,784 shares changed hands during mid-day trading, an increase of 80% from the average session volume of 5,466,865 shares. The stock had previously closed at $18.21.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, B. Riley raised their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 2.8 %

The company has a market cap of $4.21 billion, a price-to-earnings ratio of -19.86 and a beta of 1.25. The business has a 50-day simple moving average of $10.90 and a two-hundred day simple moving average of $9.44. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last posted its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The company had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same quarter last year, the firm posted ($0.13) earnings per share.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 490,595 shares of company stock valued at $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMR. Swedbank AB bought a new position in NuScale Power during the first quarter valued at about $18,585,000. Van ECK Associates Corp bought a new stake in shares of NuScale Power during the second quarter valued at approximately $7,600,000. Bank of New York Mellon Corp raised its stake in shares of NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after purchasing an additional 137,382 shares in the last quarter. SG Americas Securities LLC lifted its position in NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock worth $2,167,000 after purchasing an additional 131,570 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in NuScale Power by 1,984.4% during the third quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after buying an additional 109,142 shares in the last quarter. Institutional investors 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.