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

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Monday . The stock had previously closed at $18.13, but opened at $18.98. NuScale Power shares last traded at $18.77, with a volume of 1,221,194 shares.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price objective on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

NuScale Power Stock Performance

The business has a fifty day moving average of $20.68 and a 200-day moving average of $19.31. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.44 billion, a PE ratio of -20.29 and a beta of 1.58.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at $470,764.50. The trade was a 51.23 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 720,682 shares of company stock valued at $12,840,747. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CoreCap Advisors LLC bought a new position in NuScale Power in the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its stake in NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after buying an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp raised its stake in NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after buying an additional 1,800 shares during the last quarter. Twin Tree Management LP purchased a new stake in NuScale Power during the 4th quarter valued at $42,000. Finally, Amalgamated Bank raised its stake in NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after buying an additional 986 shares during the last quarter. 78.37% of the stock is owned by institutional investors.

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.