NuScale Power (NYSE:SMR) Shares Up 2.4% – Should You Buy?

NuScale Power Co. (NYSE:SMR) shares were up 2.4% during mid-day trading on Thursday . The stock traded as high as $21.97 and last traded at $21.93. Approximately 3,220,006 shares changed hands during mid-day trading, a decline of 45% from the average daily volume of 5,899,305 shares. The stock had previously closed at $21.41.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 13.1 %

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $13.87 and a two-hundred day moving average of $10.73. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -23.79 and a beta of 1.12.

NuScale Power (NYSE:SMR) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The firm had revenue of $0.97 million during the quarter, compared to analyst estimates 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 other news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the sale, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 478,293 shares of company stock valued at $6,179,222 over the last 90 days. 1.96% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new position in NuScale Power during the 3rd quarter worth about $54,000. CWM LLC grew its stake in shares of NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the second quarter valued at $64,000. TFC Financial Management Inc. acquired a new position in NuScale Power during the 2nd quarter worth $75,000. Finally, Fortitude Family Office LLC purchased a new position in shares of NuScale Power in the 2nd quarter valued at about $98,000. Institutional investors and hedge funds own 15.28% 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.