NuScale Power (NYSE:SMR) Trading 11% Higher – Should You Buy?

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

Analysts Set New Price Targets

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

NuScale Power Stock Performance

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 stock has a 50 day moving average price of $19.06 and a two-hundred day moving average price of $19.84. The company has a market cap of $3.97 billion, a P/E ratio of -14.80 and a beta of 1.64.

Insider Activity at NuScale Power

In other news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the sale, the vice president now directly owns 1,149 shares of the company’s stock, valued at approximately $16,683.48. This represents a 95.54 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the completion of the transaction, the chief technology officer now directly owns 516,207 shares of the company’s stock, valued at approximately $7,810,211.91. This trade represents a 6.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 89,114 shares of company stock worth $1,351,231. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position 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 acquiring an additional 460,487 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power in the 3rd quarter valued at $44,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after purchasing an additional 128,012 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of NuScale Power by 28.4% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 28,683 shares of the company’s stock worth $332,000 after buying an additional 6,350 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after buying an additional 86,454 shares during the last quarter. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.