NuScale Power (NYSE:SMR) Shares Gap Up - Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $15.09, but opened at $16.38. NuScale Power shares last traded at $15.84, with a volume of 1,818,555 shares traded.

Analysts Set New Price Targets

SMR has been the topic of several recent analyst reports. UBS Group reduced their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. BTIG Research started coverage on shares of NuScale Power in a research report on Friday, April 11th. They issued a "buy" rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $16.60.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a 50 day moving average of $16.33 and a 200-day moving average of $19.98. The company has a market cap of $4.60 billion, a PE ratio of -17.17 and a beta of 1.64.

Insider Transactions at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total transaction of $494,487.20. Following the completion of the transaction, the chief financial officer now owns 29,985 shares of the company's stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the transaction, the vice president now owns 1,149 shares of the company's stock, valued at $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 89,114 shares of company stock worth $1,351,231 over the last three months. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its stake in shares of NuScale Power by 204.0% during the 3rd 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. Franklin Resources Inc. acquired a new stake in NuScale Power during the third quarter valued at $555,000. Barclays PLC increased its holdings in NuScale Power by 472.3% in the third quarter. Barclays PLC now owns 150,791 shares of the company's stock valued at $1,746,000 after buying an additional 124,441 shares in the last quarter. Spire Wealth Management acquired a new position in shares of NuScale Power in the fourth quarter worth about $262,000. Finally, Bouvel Investment Partners LLC purchased a new stake in shares of NuScale Power during the 4th quarter worth about $973,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.