NuScale Power (NYSE:SMR) Stock Price Up 6.5% – Should You Buy?

NuScale Power Co. (NYSE:SMR) rose 6.5% during mid-day trading on Thursday . The company traded as high as $28.42 and last traded at $28.06. Approximately 10,872,091 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 6,362,766 shares. The stock had previously closed at $26.34.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SMR. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The stock has a 50-day moving average price of $18.11 and a 200 day moving average price of $12.50. The firm has a market capitalization of $7.17 billion, a price-to-earnings ratio of -29.54 and a beta of 1.12. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 409,051 shares of company stock worth $5,525,671 in the last 90 days. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Canal Insurance CO raised its holdings in NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Van ECK Associates Corp lifted its position in NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the last quarter. International Assets Investment Management LLC grew its stake in NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after buying an additional 109,142 shares during the last quarter. SG Americas Securities LLC lifted its stake in NuScale Power by 244.7% in the second quarter. SG Americas Securities LLC now owns 185,342 shares of the company’s stock valued at $2,167,000 after buying an additional 131,570 shares during the last quarter. Finally, Brookstone Capital Management acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $126,000. Institutional investors and hedge funds own 15.28% 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.