NuScale Power (NYSE:SMR) Trading 13.2% Higher – Still a Buy?

NuScale Power Co. (NYSE:SMR) shares shot up 13.2% during trading on Friday . The stock traded as high as $32.30 and last traded at $31.77. 7,175,340 shares traded hands during mid-day trading, an increase of 13% from the average session volume of 6,363,664 shares. The stock had previously closed at $28.06.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. Craig Hallum raised their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Up 6.6 %

The company has a market capitalization of $7.64 billion, a P/E ratio of -33.44 and a beta of 1.12. The stock has a 50 day moving average of $18.49 and a 200-day moving average of $12.61. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Transactions at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 409,051 shares of company stock valued at $5,525,671 over the last three months. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new stake in shares of NuScale Power in the first quarter worth about $18,585,000. Van ECK Associates Corp bought a new position in shares of NuScale Power during the 2nd quarter valued at approximately $7,600,000. Charles Schwab Investment Management Inc. grew its holdings in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Geode Capital Management LLC increased its position in NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in NuScale Power during the third quarter valued at $2,895,000. 15.28% of the stock is currently 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.