NuScale Power (NYSE:SMR) Shares Up 13.2% - Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) were up 13.2% during mid-day trading on Friday . The stock traded as high as $32.30 and last traded at $31.77. Approximately 7,175,340 shares traded hands during mid-day trading, an increase of 13% from the average daily volume of 6,363,664 shares. The stock had previously closed at $28.06.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SMR shares. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective on the stock. Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Price Performance

The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of -31.21 and a beta of 1.12. 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 company has a 50 day moving average of $18.85 and a 200 day moving average of $12.72.

Insider Buying and Selling

In other news, insider Robert K. Temple sold 115,866 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 14,054 shares of the company's stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 409,051 shares of company stock valued at $5,525,671 in the last three months. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SMR. Franklin Resources Inc. purchased a new stake in shares of NuScale Power in the 3rd quarter valued at about $555,000. Tidal Investments LLC purchased a new stake in shares of NuScale Power in the 3rd quarter valued at about $118,000. Barclays PLC lifted its holdings in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company's stock valued at $1,746,000 after purchasing an additional 124,441 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock valued at $21,194,000 after purchasing an additional 317,285 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company's stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. 15.28% of the stock is 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.