NuScale Power (NYSE:SMR) Reaches New 52-Week High – Still a Buy?

Shares of NuScale Power Co. (NYSE:SMR) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $32.15 and last traded at $31.44, with a volume of 5469250 shares changing hands. The stock had previously closed at $28.06.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Craig Hallum increased their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Up 6.9 %

The firm has a 50-day moving average price of $18.49 and a 200 day moving average price of $12.61. The company has a market cap of $7.66 billion, a price-to-earnings ratio of -33.44 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.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 409,051 shares of company stock valued at $5,525,671. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SMR. Catalina Capital Group LLC boosted its position in shares of NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after purchasing an additional 809 shares during the period. HighTower Advisors LLC grew its position in NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares in the last quarter. Indie Asset Partners LLC lifted its position in NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after buying an additional 1,250 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the 3rd quarter valued at $44,000. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after acquiring an additional 4,014 shares during the last quarter. Institutional investors and hedge funds 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.