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

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Thursday . The stock had previously closed at $15.98, but opened at $16.34. NuScale Power shares last traded at $15.41, with a volume of 533,665 shares trading hands.

Analyst Ratings Changes

Separately, UBS Group decreased their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.58.

NuScale Power Trading Down 3.9 %

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 business’s 50-day simple moving average is $21.11 and its two-hundred day simple moving average is $18.77. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of -16.20 and a beta of 1.58.

Insider Activity at NuScale Power

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 value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This represents a 95.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now owns 1,149 shares in the company, valued at approximately $16,683.48. This represents a 95.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,682 shares of company stock worth $12,840,747. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds have recently modified their holdings of the stock. Total Wealth Planning & Management Inc. acquired a new stake in NuScale Power during the 4th quarter worth about $324,000. Glen Eagle Advisors LLC purchased a new position in shares of NuScale Power in the fourth quarter worth approximately $208,000. Voloridge Investment Management LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at approximately $1,766,000. Two Sigma Advisers LP acquired a new position in NuScale Power in the 4th quarter worth approximately $2,018,000. Finally, Two Sigma Investments LP grew its position in NuScale Power by 60.2% during the 4th quarter. Two Sigma Investments LP now owns 487,037 shares of the company’s stock worth $8,733,000 after purchasing an additional 182,928 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.