NuScale Power (NYSE:SMR) Shares Gap Down to $4.85

NuScale Power Co. (NYSE:SMR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.85, but opened at $4.70. NuScale Power shares last traded at $4.79, with a volume of 768,126 shares changing hands.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SMR. UBS Group upped their price target on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 19th. Wells Fargo & Company reaffirmed an “underweight” rating and set a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group boosted their price target on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Canaccord Genuity Group initiated coverage on NuScale Power in a research report on Monday, January 29th. They set a “buy” rating and a $4.25 price objective on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.75.

NuScale Power Stock Down 0.8 %

The business has a 50 day simple moving average of $4.63 and a 200 day simple moving average of $3.74.

NuScale Power (NYSE:SMR) last released its earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.03). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The firm had revenue of $4.56 million during the quarter, compared to analyst estimates of $1.75 million. As a group, equities research analysts predict that NuScale Power Co. will post -0.41 EPS for the current year.

Insider Transactions at NuScale Power

In related news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SMR. Federated Hermes Inc. purchased a new position in shares of NuScale Power in the 3rd quarter valued at about $43,000. Ameritas Investment Partners Inc. increased its position in shares of NuScale Power by 80.1% in the second quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock valued at $30,000 after buying an additional 1,968 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of NuScale Power during the 2nd quarter worth approximately $37,000. Point72 Hong Kong Ltd acquired a new stake in NuScale Power in the 2nd quarter valued at $57,000. Finally, Legal & General Group Plc increased its holdings in NuScale Power by 157.3% in the 4th quarter. Legal & General Group Plc now owns 7,569 shares of the company’s stock worth $78,000 after acquiring an additional 4,627 shares in 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.