NuScale Power (NYSE:SMR) Sees Unusually-High Trading Volume – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) saw unusually-high trading volume on Friday . Approximately 3,838,849 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 5,625,464 shares.The stock last traded at $18.93 and had previously closed at $18.39.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SMR. B. Riley increased their target price on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. CLSA initiated coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. Finally, Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Trading Up 3.8 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market cap of $4.76 billion, a P/E ratio of -18.68 and a beta of 1.25. The firm’s 50-day simple moving average is $11.24 and its 200 day simple moving average is $9.56.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.43 million. During the same period last year, the firm posted ($0.13) EPS.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of NuScale Power during the 3rd quarter valued at $170,000. International Assets Investment Management LLC lifted its holdings in shares of NuScale Power by 1,984.4% in 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. Private Advisor Group LLC boosted its position in shares of NuScale Power by 20.7% in the third quarter. Private Advisor Group LLC now owns 35,470 shares of the company’s stock valued at $411,000 after acquiring an additional 6,071 shares during the period. Jade Capital Advisors LLC increased its holdings in NuScale Power by 33.3% during the 3rd quarter. Jade Capital Advisors LLC now owns 40,000 shares of the company’s stock worth $463,000 after acquiring an additional 10,000 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in NuScale Power in the 3rd quarter worth approximately $175,000. Hedge funds and other 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.