NuScale Power (NYSE:SMR) Trading 9.8% Higher - Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) shot up 9.8% during trading on Wednesday . The company traded as high as $25.59 and last traded at $25.23. 5,344,070 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 12,054,664 shares. The stock had previously closed at $22.98.

Analyst Ratings Changes

Separately, Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $11.42.

NuScale Power Stock Up 6.1 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market cap of $7.00 billion, a price-to-earnings ratio of -28.87 and a beta of 1.51. The firm has a 50 day simple moving average of $22.05 and a two-hundred day simple moving average of $17.29.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The firm had revenue of $0.48 million during the quarter, compared to analyst estimates of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same quarter in the prior year, the business earned ($0.26) earnings per share.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm'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 transaction of $527,394.00. Following the sale, the vice president now owns 3,801 shares in the company, 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. Company insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Venturi Wealth Management LLC raised its stake in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after purchasing an additional 1,500 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of 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 buying an additional 1,800 shares in the last quarter. Twin Tree Management LP acquired a new stake in NuScale Power in the 4th quarter valued at approximately $42,000. Amalgamated Bank lifted its stake in 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 acquiring an additional 986 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in NuScale Power by 2,980.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock worth $66,000 after acquiring an additional 3,576 shares during the last quarter. 78.37% of the stock is owned by institutional investors.

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.