NuScale Power (NYSE:SMR) Shares Gap Up – Should You Buy?

NuScale Power Co. (NYSE:SMR) shares gapped up before the market opened on Monday . The stock had previously closed at $18.13, but opened at $18.98. NuScale Power shares last traded at $18.77, with a volume of 1,221,194 shares changing hands.

Analyst Ratings Changes

Separately, UBS Group decreased their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th.

NuScale Power Stock Up 6.3 %

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 has a market capitalization of $5.44 billion, a PE ratio of -20.29 and a beta of 1.58. The stock has a 50-day moving average of $20.68 and a 200 day moving average of $19.31.

Insiders Place Their Bets

In other NuScale Power news, CFO Robert Ramsey Hamady sold 31,496 shares of the firm’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at $470,764.50. This trade represents a 51.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 720,682 shares of company stock valued at $12,840,747 over the last ninety days. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently made changes to their positions in the stock. CoreCap Advisors LLC bought a new position in shares of NuScale Power in the fourth quarter worth $33,000. Venturi Wealth Management LLC raised its position in NuScale Power by 313.8% during the fourth 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 in the last quarter. Toth Financial Advisory Corp raised 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 valued at $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP purchased a new stake in NuScale Power during the fourth quarter valued at about $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the third quarter valued at about $44,000. 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.