NuScale Power (NYSE:SMR) Trading 11% Higher – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price traded up 11% on Thursday . The stock traded as high as $27.69 and last traded at $28.37. 6,292,814 shares traded hands during mid-day trading, a decline of 31% from the average session volume of 9,081,736 shares. The stock had previously closed at $25.57.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 3.5 %

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The company’s 50 day moving average price is $22.99 and its two-hundred day moving average price is $16.42. The stock has a market cap of $7.17 billion, a P/E ratio of -29.54 and a beta of 1.47.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The business 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 in the previous year, the company posted ($0.26) EPS.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction 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 transaction, the vice president now directly owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of SMR. Hsbc Holdings PLC purchased a new stake in NuScale Power during the 2nd quarter worth approximately $126,000. Sei Investments Co. acquired a new position in shares of NuScale Power in the 2nd quarter valued at $520,000. Squarepoint Ops LLC purchased a new position in NuScale Power in the 2nd quarter worth $783,000. The Manufacturers Life Insurance Company grew its stake in NuScale Power by 37.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock valued at $345,000 after purchasing an additional 8,096 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of NuScale Power in the second quarter valued at about $419,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.