NuScale Power (NYSE:SMR) Trading Up 0.5% – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price was up 0.5% on Wednesday . The company traded as high as $17.55 and last traded at $16.29. Approximately 3,972,602 shares traded hands during trading, a decline of 66% from the average daily volume of 11,759,232 shares. The stock had previously closed at $16.21.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Up 5.9 %

The stock has a market cap of $4.11 billion, a PE ratio of -16.63 and a beta of 1.58. The firm has a fifty day moving average of $21.06 and a 200 day moving average of $18.75. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the transaction, the vice president now owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. This trade represents a 95.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s 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 transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 720,682 shares of company stock valued at $12,840,747 over the last quarter. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of NuScale Power by 8.2% during the fourth quarter. Vanguard Group Inc. now owns 8,427,917 shares of the company’s stock worth $151,113,000 after purchasing an additional 635,271 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of NuScale Power by 1.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,688,678 shares of the company’s stock worth $101,998,000 after purchasing an additional 89,949 shares during the last quarter. Samsung C&T Corp purchased a new position in shares of NuScale Power during the fourth quarter worth about $46,745,000. Geode Capital Management LLC grew its holdings in shares of NuScale Power by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,965,456 shares of the company’s stock worth $35,249,000 after purchasing an additional 135,613 shares during the last quarter. Finally, Van ECK Associates Corp grew its holdings in shares of NuScale Power by 41.4% during the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after purchasing an additional 511,168 shares during the last quarter. Hedge funds and other institutional investors own 78.37% 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.