NuScale Power (NYSE:SMR) Shares Up 7.8% - Should You Buy?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) traded up 7.8% during mid-day trading on Wednesday . The company traded as high as $17.74 and last traded at $17.87. 1,850,172 shares were traded during trading, a decline of 78% from the average session volume of 8,263,458 shares. The stock had previously closed at $16.58.

Wall Street Analysts Forecast Growth

Separately, UBS Group reduced their price objective on shares of NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a research note on Friday, March 7th.

NuScale Power Price Performance

The company's fifty day moving average price is $20.68 and its 200 day moving average price is $19.15. The company has a market capitalization of $5.11 billion, a P/E ratio of -19.06 and a beta of 1.58. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert Ramsey Hamady sold 31,496 shares of NuScale Power stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total transaction of $494,487.20. Following the transaction, the chief financial officer now owns 29,985 shares in the company, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 over the last three months. 1.96% of the stock is owned by insiders.

Remove Ads

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of SMR. Samsung C&T Corp purchased a new position in NuScale Power in the fourth quarter valued at about $46,745,000. Arrowstreet Capital Limited Partnership purchased a new stake in NuScale Power in the fourth quarter worth approximately $22,823,000. Vanguard Group Inc. lifted its position in NuScale Power by 8.2% in the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company's stock valued at $151,113,000 after purchasing an additional 635,271 shares during the last quarter. Van ECK Associates Corp lifted its position in NuScale Power by 41.4% in the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company's stock valued at $31,317,000 after purchasing an additional 511,168 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after acquiring an additional 460,487 shares in the last quarter. 78.37% 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.