NuScale Power (NYSE:SMR) Stock Price Up 7% - Still a Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares were up 7% during mid-day trading on Thursday . The company traded as high as $16.85 and last traded at $16.52. Approximately 2,700,072 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 9,699,608 shares. The stock had previously closed at $15.44.

Analyst Ratings Changes

SMR has been the topic of a number of analyst reports. BTIG Research assumed coverage on NuScale Power in a research note on Friday, April 11th. They set a "buy" rating and a $20.00 target price on the stock. UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.60.

NuScale Power Stock Up 0.7 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business's 50-day moving average is $16.22 and its two-hundred day moving average is $20.01. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of -17.56 and a beta of 1.64.

Insider Activity at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the sale, the chief financial officer now owns 29,985 shares in the company, valued at approximately $470,764.50. The trade was a 51.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company's stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,114 shares of company stock worth $1,351,231. Company insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently added to or reduced their stakes in SMR. Victory Capital Management Inc. boosted its holdings in shares of NuScale Power by 6.6% in the 4th quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock valued at $191,000 after purchasing an additional 656 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of NuScale Power by 6.9% during the first quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock worth $189,000 after acquiring an additional 833 shares during the last quarter. Amalgamated Bank raised its position in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after purchasing an additional 986 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of NuScale Power by 16.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock worth $159,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in NuScale Power by 6.6% during the 4th quarter. Corient Private Wealth LLC now owns 21,130 shares of the company's stock worth $379,000 after buying an additional 1,314 shares during the last quarter. 78.37% 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.