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

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

Analysts Set New Price Targets

Separately, Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

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

NuScale Power (NYSE:SMR) last issued its quarterly earnings data 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 firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same quarter in the prior year, the firm posted ($0.26) EPS.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following 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 ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in the business. Toth Financial Advisory Corp grew its stake in NuScale Power by 600.0% during the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after buying an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power during the 3rd quarter worth $44,000. US Bancorp DE bought a new position in NuScale Power during the 3rd quarter worth $54,000. CWM LLC grew its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in shares of NuScale Power in the fourth quarter worth $67,000. 78.37% 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.