NuScale Power (NYSE:SMR) Shares Up 5.4% – Time to Buy?

Shares of NuScale Power Co. (NYSE:SMR) traded up 5.4% on Monday . The stock traded as high as $14.27 and last traded at $13.85. 2,870,592 shares traded hands during trading, a decline of 43% from the average session volume of 5,018,186 shares. The stock had previously closed at $13.14.

Analysts Set New Price Targets

A number of research analysts recently commented on SMR shares. Craig Hallum began coverage on shares of NuScale Power in a research report on Thursday, September 26th. They issued a “buy” rating and a $16.00 target price on the stock. B. Riley raised their price objective on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, CLSA started 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 investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Price Performance

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The company has a market cap of $3.39 billion, a P/E ratio of -16.02 and a beta of 1.25. The company’s 50-day moving average price is $9.77 and its two-hundred day moving average price is $8.89.

NuScale Power (NYSE:SMR) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The firm had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same period in the previous year, the firm earned ($0.13) EPS.

Insider Activity

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the sale, the insider now directly owns 19,054 shares in the company, valued at $190,540. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 374,729 shares of company stock worth $4,178,595 in the last three months. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $18,585,000. Van ECK Associates Corp bought a new stake in shares of NuScale Power in the 2nd quarter valued at about $7,600,000. Rheos Capital Works Inc. acquired a new stake in shares of NuScale Power in the first quarter valued at approximately $1,328,000. Bank of New York Mellon Corp boosted its position in NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after purchasing an additional 137,382 shares during the period. Finally, SG Americas Securities LLC grew its stake in NuScale Power by 244.7% in the 2nd 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. 15.28% of the stock is owned by institutional investors and hedge funds.

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.