NuScale Power (NYSE:SMR) Shares Up 9.8% – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s stock price rose 9.8% during mid-day trading on Wednesday . The stock traded as high as $25.59 and last traded at $25.23. Approximately 5,344,070 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 12,054,664 shares. The stock had previously closed at $22.98.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price objective 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 research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

NuScale Power Trading Up 7.6 %

The stock has a market cap of $6.32 billion, a PE ratio of -26.08 and a beta of 1.51. 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 50 day moving average of $22.29 and a two-hundred day moving average of $16.88.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same period in the prior year, the business posted ($0.26) earnings per share.

Insider Activity

In other news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction that occurred 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 owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Catalina Capital Group LLC raised its stake in NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after buying an additional 809 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares during the period. Amalgamated Bank lifted its stake in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after acquiring an additional 986 shares during the period. Indie Asset Partners LLC increased its position in NuScale Power by 7.1% during the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after purchasing an additional 1,250 shares during the period. Finally, Venturi Wealth Management LLC raised its position in NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors and hedge funds 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.