NuScale Power (NYSE:SMR) Shares Gap Up – Time to Buy?

NuScale Power Co. (NYSE:SMR) gapped up prior to trading on Monday . The stock had previously closed at $30.21, but opened at $31.97. NuScale Power shares last traded at $29.74, with a volume of 2,415,540 shares changing hands.

Analyst Ratings Changes

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

NuScale Power Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $17.76 and its 200 day moving average price is $12.36.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 409,051 shares of company stock worth $5,525,671. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power during the third quarter worth approximately $44,000. US Bancorp DE bought a new stake in shares of NuScale Power in the 3rd quarter worth $54,000. CWM LLC lifted its holdings in shares of NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter valued at about $64,000. Finally, TFC Financial Management Inc. acquired a new position in NuScale Power during the second quarter worth about $75,000. 15.28% of the stock is currently owned by institutional investors.

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.