NuScale Power (NYSE:SMR) Shares Gap Up – Should You Buy?

NuScale Power Corporation (NYSE:SMR)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $36.50, but opened at $38.68. NuScale Power shares last traded at $41.03, with a volume of 7,731,469 shares.

Analyst Ratings Changes

A number of research firms have weighed in on SMR. BTIG Research lowered NuScale Power from a “buy” rating to a “neutral” rating in a report on Wednesday. CLSA set a $41.00 price target on NuScale Power and gave the stock an “outperform” rating in a research report on Tuesday, May 27th. UBS Group raised their price objective on NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the company a “neutral” rating in a research note on Tuesday, May 20th. Finally, Canaccord Genuity Group set a $35.00 price target on shares of NuScale Power and gave the company a “buy” rating in a research report on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.38.

NuScale Power Trading Down 10.5%

The stock has a 50-day moving average price of $26.99 and a two-hundred day moving average price of $22.08. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of -28.25 and a beta of 2.00.

NuScale Power (NYSE:SMR) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.06. NuScale Power had a positive return on equity of 0.09% and a negative net margin of 273.36%. The business had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. Research analysts predict that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 26,345 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $23.66, for a total transaction of $623,322.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the sale, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,278 shares of company stock worth $2,286,280. 1.27% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Samsung C&T Corp purchased a new position in shares of NuScale Power during the 4th quarter valued at about $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in NuScale Power by 1,220.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company’s stock valued at $26,127,000 after acquiring an additional 1,705,411 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in NuScale Power during the fourth quarter valued at approximately $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company’s stock valued at $96,880,000 after acquiring an additional 1,153,158 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong purchased a new stake in NuScale Power in the 1st quarter worth approximately $14,271,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.