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

NuScale Power Co. (NYSE:SMR)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $21.97, but opened at $23.86. NuScale Power shares last traded at $22.84, with a volume of 3,634,638 shares.

Analysts Set New Price Targets

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

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The company’s 50-day moving average is $22.80 and its two-hundred day moving average is $16.23.

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

Insider Buying and Selling at NuScale Power

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $625,537. This represents a 95.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the 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 completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % 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

Several institutional investors have recently modified their holdings of SMR. Geode Capital Management LLC boosted its holdings in shares of NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp boosted its stake in shares of NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after purchasing an additional 585,292 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in NuScale Power by 57.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after buying an additional 128,012 shares during the last quarter. 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.