NuScale Power (NYSE:SMR) Trading 5.2% Higher – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $23.28 and last traded at $22.05. 8,244,521 shares were traded during trading, a decline of 29% from the average session volume of 11,664,905 shares. The stock had previously closed at $20.95.

Analyst Ratings Changes

Separately, Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $11.42.

NuScale Power Price Performance

The firm has a fifty day moving average price of $22.57 and a 200 day moving average price of $16.64. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The firm had revenue of $0.48 million for the quarter, compared to analyst estimates of $6.18 million. During the same quarter in the prior year, the firm earned ($0.26) EPS.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction on Friday, November 29th. The stock was 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 of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was 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 approximately $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently modified their holdings of the business. Canal Insurance CO boosted its holdings in NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after purchasing an additional 56,000 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares in the last quarter. Verition Fund Management LLC raised its stake in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after purchasing an additional 86,454 shares in the last quarter. JPMorgan Chase & Co. lifted its position in NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after purchasing an additional 111,812 shares during the period. Finally, Stifel Financial Corp lifted its position in NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares during the period. Institutional investors and hedge funds own 78.37% 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.