NuScale Power (NYSE:SMR) Sees Large Volume Increase - Still a Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares saw strong trading volume on Tuesday . 5,709,437 shares traded hands during trading, a decline of 35% from the previous session's volume of 8,850,458 shares.The stock last traded at $31.32 and had previously closed at $30.24.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. UBS Group raised their target price on shares of NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a report on Thursday. BTIG Research reaffirmed a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a report on Thursday. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday. Finally, The Goldman Sachs Group set a $24.00 price target on NuScale Power and gave the company a "neutral" rating in a research report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

NuScale Power Trading Down 6.5%

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 company has a market cap of $9.40 billion, a price-to-earnings ratio of -34.79 and a beta of 1.62. The business has a fifty day simple moving average of $18.73 and a 200 day simple moving average of $20.71.

NuScale Power (NYSE:SMR - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, topping analysts' consensus estimates of ($0.17) by $0.06. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. On average, equities analysts anticipate that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 26,345 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total value of $623,322.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares of the company's stock, valued at approximately $16,683.48. The trade was a 95.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 184,392 shares of company stock worth $3,138,221 in the last 90 days. 1.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of NuScale Power by 6.6% in the fourth quarter. Victory Capital Management Inc. now owns 10,669 shares of the company's stock worth $191,000 after buying an additional 656 shares during the period. Deutsche Bank AG grew its position in NuScale Power by 0.9% in the 1st quarter. Deutsche Bank AG now owns 76,082 shares of the company's stock worth $1,077,000 after purchasing an additional 686 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in NuScale Power by 6.9% in the 1st quarter. Farther Finance Advisors LLC now owns 12,902 shares of the company's stock valued at $189,000 after acquiring an additional 833 shares in the last quarter. Amalgamated Bank raised its stake in shares of NuScale Power by 51.8% in the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after buying an additional 986 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its stake in shares of NuScale Power by 16.6% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,863 shares of the company's stock valued at $159,000 after purchasing an additional 1,260 shares during the period. 78.37% of the stock is 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.