NuScale Power (NYSE:SMR) Stock Price Up 11.9% - Should You Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shot up 11.9% during trading on Friday . The company traded as high as $19.87 and last traded at $19.81. 4,028,439 shares changed hands during trading, a decline of 23% from the average session volume of 5,233,892 shares. The stock had previously closed at $17.71.

Analyst Ratings Changes

Several equities analysts have issued reports on SMR shares. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price target for the company. One 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.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Trading Up 17.7 %

The business has a 50-day moving average price of $22.75 and a two-hundred day moving average price of $15.15. The company has a market cap of $5.32 billion, a P/E ratio of -21.95 and a beta of 1.33. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In related news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction 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 completion of the sale, the insider now directly owns 14,054 shares of the company's stock, valued at $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the company. Canal Insurance CO raised its position in shares of NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company's stock worth $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% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after buying an additional 460,487 shares during the period. Verition Fund Management LLC lifted its stake in 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 buying an additional 86,454 shares in the last quarter. Stifel Financial Corp increased its position in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company's stock worth $1,371,000 after acquiring an additional 100,995 shares in the last quarter. Finally, Benjamin Edwards Inc. acquired a new stake in shares of NuScale Power during the third quarter worth $277,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.