NuScale Power (NYSE:SMR) Shares Up 17.5% – Time to Buy?

by · The Markets Daily

NuScale Power Co. (NYSE:SMR – Get Free Report)’s stock price rose 17.5% during trading on Monday . The stock traded as high as $21.70 and last traded at $21.63. Approximately 12,906,390 shares were traded during mid-day trading, an increase of 126% from the average daily volume of 5,702,717 shares. The stock had previously closed at $18.41.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

Read Our Latest Stock Analysis on SMR

NuScale Power Trading Down 1.6 %

The firm has a market cap of $5.39 billion, a P/E ratio of -21.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a fifty day moving average of $11.93 and a 200-day moving average of $9.94.

NuScale Power (NYSE:SMR – Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same period last year, the business earned ($0.13) EPS.

Insider Activity at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 490,595 shares of company stock worth $6,287,356 in the last three months. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently modified their holdings of SMR. Van ECK Associates Corp raised its position in NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Indie Asset Partners LLC raised its holdings in shares of NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after purchasing an additional 1,250 shares in the last quarter. Clear Creek Financial Management LLC acquired a new stake in NuScale Power during the third quarter valued at approximately $134,000. US Bancorp DE bought a new stake in NuScale Power during the third quarter worth approximately $54,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in NuScale Power in the third quarter worth approximately $170,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

About NuScale Power

(Get Free Report)

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.

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