NuScale Power (NYSE:SMR) Shares Gap Down – Here’s Why

NuScale Power Co. (NYSE:SMR) gapped down prior to trading on Tuesday . The stock had previously closed at $18.96, but opened at $18.45. NuScale Power shares last traded at $17.64, with a volume of 4,453,752 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on SMR. CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. B. Riley lifted their target price on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $4.38 billion, a PE ratio of -16.66 and a beta of 1.25. The company’s fifty day simple moving average is $10.75 and its 200 day simple moving average is $9.36.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter in the previous year, the company posted ($0.13) earnings per share.

Insider Activity

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $134,496.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. CWM LLC boosted its holdings 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 acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new position in shares of NuScale Power in the second quarter worth approximately $64,000. TFC Financial Management Inc. purchased a new position in shares of NuScale Power in the second quarter worth $75,000. Fortitude Family Office LLC bought a new stake in NuScale Power in the 2nd quarter worth $98,000. Finally, Quest Partners LLC purchased a new stake in shares of NuScale Power during the second quarter worth about $115,000. 15.28% of the stock is currently owned by hedge funds and other 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.