NuScale Power (NYSE:SMR) Shares Up 11.9% – Still a Buy?

NuScale Power Co. (NYSE:SMR) shares rose 11.9% on Friday . The company traded as high as $19.87 and last traded at $19.81. Approximately 4,028,439 shares were traded during trading, a decline of 23% from the average daily volume of 5,233,892 shares. The stock had previously closed at $17.71.

Analysts Set New Price Targets

SMR has been the topic of several research analyst reports. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They set 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 report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The firm’s fifty day simple moving average is $22.75 and its 200-day simple moving average is $15.15. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $5.21 billion, a PE ratio of -21.47 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction on 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 completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Canal Insurance CO increased its position in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC increased its holdings in NuScale Power by 319.9% during the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after buying an additional 86,454 shares during the last quarter. Stifel Financial Corp raised its position in NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after acquiring an additional 100,995 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in shares of NuScale Power during the 3rd quarter worth $277,000. Institutional investors own 78.37% 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.