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

NuScale Power Co. (NYSE:SMR) shares traded up 9.2% on Wednesday . The stock traded as high as $26.13 and last traded at $25.37. 7,117,416 shares traded hands during trading, an increase of 16% from the average session volume of 6,118,435 shares. The stock had previously closed at $23.24.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 1.2 %

The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $15.17 and a two-hundred day moving average of $11.24.

Insider Transactions at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This represents a 25.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,293 shares of company stock valued at $5,679,222 in the last three months. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Large investors have recently made changes to their positions in the company. Swedbank AB purchased a new stake in NuScale Power in the 1st quarter valued at $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power in the second quarter valued at about $7,600,000. Charles Schwab Investment Management Inc. grew its holdings in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the period. TimesSquare Capital Management LLC purchased a new position in NuScale Power during the third quarter worth about $2,895,000. Finally, Philip James Wealth Mangement LLC purchased a new position in NuScale Power during the third quarter worth about $1,656,000. 15.28% of the stock is currently owned by hedge funds and other 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.