NuScale Power (NYSE:SMR) Stock Price Up 5.5% – Still a Buy?

NuScale Power Co. (NYSE:SMR) shot up 5.5% during trading on Friday . The company traded as high as $20.44 and last traded at $20.20. 3,603,265 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 5,853,425 shares. The stock had previously closed at $19.14.

Analysts Set New Price Targets

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

NuScale Power Stock Up 0.4 %

The company has a fifty day moving average of $12.40 and a two-hundred day moving average of $10.08. The company has a market cap of $4.79 billion, a PE ratio of -19.61 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 released its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the previous year, the company posted ($0.13) EPS.

Insider Activity at NuScale Power

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 490,595 shares of company stock worth $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the company. Philip James Wealth Mangement LLC acquired a new stake in shares of NuScale Power during the third quarter worth about $1,656,000. Canal Insurance CO lifted its holdings in shares of NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the period. Catalina Capital Group LLC raised its position in NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after acquiring an additional 809 shares in the last quarter. Van ECK Associates Corp raised its position in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Finally, Indie Asset Partners LLC raised its position in NuScale Power by 7.1% during the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after acquiring an additional 1,250 shares in the last quarter. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.