NuScale Power (NYSE:SMR) Trading 2.2% Higher - Time to Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) traded up 2.2% on Friday . The company traded as high as $24.89 and last traded at $24.88. 3,651,867 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 6,429,650 shares. The stock had previously closed at $24.35.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Craig Hallum upped their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. CLSA assumed coverage on shares of 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 given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Trading Up 1.2 %

The company has a fifty day simple moving average of $20.32 and a 200-day simple moving average of $13.40. 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 stock has a market cap of $6.29 billion, a price-to-earnings ratio of -26.19 and a beta of 1.33.

Insider Activity

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the business's stock in a transaction dated 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 $134,496.78. The trade was a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction dated 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 $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,237 shares of company stock worth $6,053,065 in the last 90 days. Company insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

Large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. bought a new position in shares of NuScale Power during the 3rd quarter valued at $555,000. Tidal Investments LLC bought a new position in NuScale Power during the third quarter valued at about $118,000. Barclays PLC lifted its position in shares of NuScale Power by 472.3% in the third quarter. Barclays PLC now owns 150,791 shares of the company's stock worth $1,746,000 after buying an additional 124,441 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of NuScale Power by 21.0% during the 3rd 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. Finally, State Street Corp raised its stake 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 acquiring an additional 154,368 shares in the last quarter. 15.28% of the stock is owned by 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.

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