NuScale Power (NYSE:SMR) Shares Gap Up - Still a Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped up prior to trading on Wednesday . The stock had previously closed at $15.09, but opened at $16.38. NuScale Power shares last traded at $15.84, with a volume of 1,818,555 shares changing hands.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. UBS Group cut their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. BTIG Research initiated coverage on NuScale Power in a research note on Friday, April 11th. They issued a "buy" rating and a $20.00 price target for the company. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, NuScale Power presently has an average rating of "Moderate Buy" and an average target price of $16.60.

NuScale Power Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a 50-day moving average price of $16.22 and a two-hundred day moving average price of $20.07. The stock has a market cap of $4.71 billion, a PE ratio of -17.56 and a beta of 1.64.

Insider Buying and Selling at NuScale Power

In related news, CFO Robert Ramsey Hamady sold 31,496 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $15.70, for a total value of $494,487.20. Following the completion of the transaction, the chief financial officer now owns 29,985 shares of the company's stock, valued at approximately $470,764.50. This trade represents a 51.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now directly owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 89,114 shares of company stock worth $1,351,231 in the last quarter. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of SMR. JPMorgan Chase & Co. lifted its position in NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company's stock worth $1,930,000 after buying an additional 111,812 shares during the last quarter. Franklin Resources Inc. bought a new stake in shares of NuScale Power in the 3rd quarter worth about $555,000. Barclays PLC lifted its holdings in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company's stock worth $1,746,000 after acquiring an additional 124,441 shares during the last quarter. Spire Wealth Management purchased a new position in shares of NuScale Power during the 4th quarter worth about $262,000. Finally, Bouvel Investment Partners LLC bought a new position in NuScale Power during the 4th quarter valued at about $973,000. 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.