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

Shares of NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Wednesday . The stock had previously closed at $23.24, but opened at $24.28. NuScale Power shares last traded at $25.73, with a volume of 3,694,105 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on SMR shares. Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 13.4 %

The firm’s 50-day moving average is $14.49 and its two-hundred day moving average is $11.05. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.66.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the business. US Bancorp DE purchased a new stake in shares of NuScale Power during the third quarter valued at $54,000. CWM LLC boosted its position in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new position in NuScale Power in the 2nd quarter worth about $64,000. TFC Financial Management Inc. bought a new position in NuScale Power in the 2nd quarter worth about $75,000. Finally, Fortitude Family Office LLC purchased a new position in shares of NuScale Power during the second quarter worth approximately $98,000. Institutional investors 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.