NuScale Power (NYSE:SMR) Shares Up 11% – Still a Buy?

NuScale Power Co. (NYSE:SMR)’s share price traded up 11% during trading on Monday . The stock traded as high as $14.94 and last traded at $13.99. 5,441,566 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 8,107,223 shares. The stock had previously closed at $12.60.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th.

NuScale Power Trading Up 15.1 %

The company has a market cap of $4.52 billion, a P/E ratio of -16.86 and a beta of 1.64. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50 day moving average is $18.44 and its two-hundred day moving average is $19.83.

Insider Buying and Selling at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 31,496 shares of the company’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the sale, the chief financial officer now directly owns 29,985 shares of the company’s stock, valued at approximately $470,764.50. This represents a 51.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the transaction, the chief technology officer now directly owns 516,207 shares of the company’s stock, valued at $7,810,211.91. This represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,114 shares of company stock worth $1,351,231. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Charles Schwab Investment Management Inc. boosted its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after acquiring an additional 111,812 shares in the last quarter. Stifel Financial Corp grew its holdings in NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares during the period. Benjamin Edwards Inc. bought a new stake in NuScale Power in the third quarter valued at $277,000. Finally, Franklin Resources Inc. acquired a new position in shares of NuScale Power during the third quarter valued at about $555,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.