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

NuScale Power Co. (NYSE:SMR) gapped down before the market opened on Thursday . The stock had previously closed at $25.57, but opened at $24.75. NuScale Power shares last traded at $25.57, with a volume of 2,495,328 shares trading hands.

Analysts Set New Price Targets

Separately, Craig Hallum lifted their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The firm’s fifty day moving average is $22.80 and its 200 day moving average is $16.23. The firm has a market capitalization of $7.37 billion, a price-to-earnings ratio of -30.53 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

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

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business’s 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 sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV bought a new stake in shares of NuScale Power in the 4th quarter valued at approximately $70,000. Union Bancaire Privee UBP SA acquired a new stake in NuScale Power in the 4th quarter valued at $67,000. Kingswood Wealth Advisors LLC bought a new stake in NuScale Power in the fourth quarter valued at $265,000. Toth Financial Advisory Corp raised its stake in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of NuScale Power by 291.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 292,833 shares of the company’s stock valued at $5,250,000 after acquiring an additional 217,998 shares during the period. Institutional investors own 78.37% 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.