NuScale Power (NYSE:SMR) Shares Up 9.2% – Still a Buy?

NuScale Power Co. (NYSE:SMR) shares shot up 9.2% during mid-day trading on Friday . The stock traded as high as $27.30 and last traded at $25.39. 11,925,644 shares were traded during mid-day trading, a decline of 4% from the average session volume of 12,393,785 shares. The stock had previously closed at $23.25.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum boosted their price target on 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 given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Up 11.2 %

The stock has a market capitalization of $6.60 billion, a P/E ratio of -27.22 and a beta of 1.51. The firm’s 50-day simple moving average is $22.13 and its 200 day simple moving average is $16.98. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

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

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s 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 $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Tiemann Investment Advisors LLC acquired a new stake in NuScale Power in the 4th quarter worth about $278,000. PNC Financial Services Group Inc. increased its stake in NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company’s stock worth $66,000 after acquiring an additional 3,576 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of NuScale Power during the 4th quarter worth $2,755,000. Arizona State Retirement System raised its stake in NuScale Power by 21.3% in the fourth quarter. Arizona State Retirement System now owns 24,739 shares of the company’s stock valued at $444,000 after purchasing an additional 4,344 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. bought a new stake in NuScale Power during the fourth quarter worth about $800,000. Institutional investors 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.