NuScale Power (NYSE:SMR) Trading Up 9.2% – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) shot up 9.2% during mid-day trading on Wednesday . The stock traded as high as $26.13 and last traded at $25.37. 7,117,416 shares changed hands during trading, an increase of 16% from the average session volume of 6,118,435 shares. The stock had previously closed at $23.24.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SMR shares. CLSA initiated coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. Craig Hallum boosted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Down 1.2 %

The company has a 50 day moving average of $15.17 and a 200-day moving average of $11.24. The company has a current ratio of 2.24, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 5,000 shares of the company’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 sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. This represents a 26.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’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 of the company’s stock, valued at $460,294.38. This represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,293 shares of company stock worth $5,679,222 over the last three months. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SMR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power in the 3rd quarter valued at about $44,000. US Bancorp DE purchased a new position in NuScale Power in the third quarter worth approximately $54,000. Avantax Advisory Services Inc. acquired a new position in NuScale Power during the 1st quarter worth approximately $58,000. CWM LLC increased its position in shares of NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $64,000. 15.28% of the stock is owned by institutional investors and hedge funds.

NuScale Power Company Profile

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.