NuScale Power (NYSE:SMR) Sees Strong Trading Volume – Time to Buy?

NuScale Power Co. (NYSE:SMR) saw an uptick in trading volume on Friday . 3,838,849 shares traded hands during 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

A number of equities analysts have weighed in on SMR shares. B. Riley upped their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The firm has a 50-day moving average price of $11.24 and a 200 day moving average price of $9.56. The stock has a market capitalization of $4.76 billion, a P/E ratio of -18.68 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter in the previous year, the firm posted ($0.13) earnings per share.

Insider Transactions at NuScale Power

In related news, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the transaction, the insider now directly owns 19,054 shares in the company, valued at $190,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Robert K. Temple sold 50,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,595 shares of company stock worth $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently modified their holdings of the business. SG Americas Securities LLC lifted its holdings in NuScale Power by 268.3% in the 1st quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock worth $286,000 after buying an additional 39,171 shares during the period. Avantax Advisory Services Inc. bought a new stake in NuScale Power in the first quarter valued at $58,000. Resurgent Financial Advisors LLC increased its position in NuScale Power by 100.0% during the 1st quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after purchasing an additional 7,400 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in NuScale Power by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after purchasing an additional 4,014 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of NuScale Power in the 1st quarter worth about $98,000. 15.28% 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.