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

NuScale Power Co. (NYSE:SMR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $23.84, but opened at $21.45. NuScale Power shares last traded at $22.58, with a volume of 4,498,048 shares trading hands.

Analysts Set New Price Targets

Separately, Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and an average target price of $11.42.

NuScale Power Stock Down 3.5 %

The business’s 50 day moving average is $22.29 and its 200 day moving average is $16.88. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $6.18 million. During the same period in the prior year, the firm posted ($0.26) earnings per share.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the business. Van ECK Associates Corp grew its position in shares of NuScale Power by 90.0% in the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Geode Capital Management LLC lifted its stake in NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of NuScale Power in the third quarter valued at approximately $2,895,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of NuScale Power by 291.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company’s stock worth $5,250,000 after acquiring an additional 217,998 shares in the last quarter. 78.37% 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.