NuScale Power (NYSE:SMR) Stock Price Up 9.2% - Time to Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price traded up 9.2% during mid-day trading on Wednesday . The stock traded as high as $26.13 and last traded at $25.37. 7,117,416 shares traded hands during mid-day trading, an increase of 16% from the average session volume of 6,118,435 shares. The stock had previously closed at $23.24.

Wall Street Analysts Forecast Growth

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

NuScale Power Price Performance

The company's 50-day simple moving average is $14.49 and its 200-day simple moving average is $11.05. The company has a current ratio of 2.24, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26.

Insider Activity at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company's stock, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Robert K. Temple sold 5,000 shares of the firm's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This trade represents a 0.00 % 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 link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 428,293 shares of company stock worth $5,679,222 in the last ninety days. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

A number of institutional investors and hedge funds have recently made changes to their positions in SMR. Swedbank AB acquired a new position in NuScale Power during the first quarter valued at approximately $18,585,000. Van ECK Associates Corp raised its holdings 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 buying an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of 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. Bank of New York Mellon Corp lifted its position in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock worth $3,256,000 after buying an additional 137,382 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in NuScale Power in the third quarter valued at about $2,895,000. Institutional investors own 15.28% of the company's stock.

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.

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