NuScale Power (NYSE:SMR) Sets New 12-Month High – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $29.52 and last traded at $28.84, with a volume of 1497022 shares trading hands. The stock had previously closed at $27.67.

Analyst Ratings Changes

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

NuScale Power Trading Up 9.2 %

The stock’s fifty day moving average price is $17.40 and its 200 day moving average price is $12.16. The stock has a market cap of $7.71 billion, a P/E ratio of -31.80 and a beta of 1.12. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other news, insider Robert K. Temple sold 144,627 shares of NuScale Power stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $153,188.60. The trade was a 91.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 25.01 % decrease in their ownership of the stock. 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. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the 3rd quarter worth $44,000. US Bancorp DE purchased a new stake in shares of NuScale Power during the third quarter worth about $54,000. CWM LLC raised its stake in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the period. International Assets Investment Management LLC purchased a new position in NuScale Power in the 2nd quarter worth approximately $64,000. Finally, TFC Financial Management Inc. bought a new position in NuScale Power in the 2nd quarter worth approximately $75,000. Hedge funds and other 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.