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

NuScale Power Co. (NYSE:SMR)’s share price gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SMR shares. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 1.2 %

The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a 50 day moving average of $15.17 and a 200 day moving average of $11.24. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -25.97 and a beta of 1.12.

Insiders Place Their Bets

In other NuScale Power 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 transaction, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. This trade represents a 25.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power 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 sale, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This trade represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 428,293 shares of company stock valued at $5,679,222 over the last quarter. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power during the third quarter valued at approximately $44,000. US Bancorp DE acquired a new position in shares of NuScale Power during the third quarter valued at approximately $54,000. Avantax Advisory Services Inc. acquired a new position in shares of NuScale Power during the first quarter valued at approximately $58,000. CWM LLC increased its stake in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in shares of NuScale Power during the second quarter valued at approximately $64,000. 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.