NuScale Power (NYSE:SMR) Trading Up 8.5% - Still a Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares rose 8.5% on Monday . The stock traded as high as $23.23 and last traded at $22.01. 11,071,596 shares changed hands during mid-day trading, an increase of 44% from the average daily volume of 7,715,323 shares. The stock had previously closed at $20.28.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Price Performance

The stock has a market capitalization of $6.41 billion, a P/E ratio of -26.29 and a beta of 1.47. The business's 50 day simple moving average is $22.79 and its two-hundred day simple moving average is $16.16. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The company had revenue of $0.48 million during the quarter, compared to analysts' expectations of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same period last year, the company earned ($0.26) earnings per share.

Insider Activity

In other news, VP Jacqueline F. Engel sold 18,186 shares of the company's stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the stock. Toth Financial Advisory Corp boosted its position in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock worth $38,000 after purchasing an additional 1,800 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power during the 3rd quarter valued at $44,000. US Bancorp DE purchased a new stake in NuScale Power during the 3rd quarter worth about $54,000. CWM LLC boosted its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company's stock worth $61,000 after purchasing an additional 5,191 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new position in NuScale Power in the 4th quarter worth about $67,000. Institutional investors own 78.37% 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.