NuScale Power (NYSE:SMR) Shares Up 8.3% - Should You Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price traded up 8.3% on Wednesday . The company traded as high as $21.34 and last traded at $20.83. 3,198,064 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 8,396,623 shares. The stock had previously closed at $19.23.

Analyst Ratings Changes

Separately, Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm's fifty day moving average price is $22.86 and its two-hundred day moving average price is $15.79. The stock has a market capitalization of $5.30 billion, a PE ratio of -21.85 and a beta of 1.47.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 34,675 shares of the company's stock, 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 owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in shares of NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock worth $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake 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 in the last quarter. Geode Capital Management LLC raised its holdings in shares of NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock valued at $21,194,000 after acquiring an additional 317,285 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of NuScale Power in the third quarter valued at approximately $2,895,000. Finally, State Street Corp boosted its stake in shares of NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company's stock worth $19,396,000 after acquiring an additional 154,368 shares during the last quarter. 78.37% of the stock is 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.