NuScale Power (NYSE:SMR) Stock Price Up 11% – Should You Buy?

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

Wall Street Analysts Forecast Growth

Separately, Craig Hallum increased their price objective 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The firm has a 50 day moving average of $22.80 and a two-hundred day moving average of $16.23. The stock has a market cap of $7.18 billion, a P/E ratio of -29.53 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. During the same quarter in the previous year, the company earned ($0.26) EPS.

Insiders Place Their Bets

In related news, 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 completion of the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’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 transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. Hsbc Holdings PLC acquired a new stake in NuScale Power during the 2nd quarter valued at $126,000. Sei Investments Co. acquired a new stake in NuScale Power during the 2nd quarter valued at $520,000. Squarepoint Ops LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $783,000. The Manufacturers Life Insurance Company increased its stake in shares of NuScale Power by 37.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock valued at $345,000 after buying an additional 8,096 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of NuScale Power in the 2nd quarter valued at $419,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.