NuScale Power (NYSE:SMR) Shares Gap Up – What’s Next?

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Wednesday . The stock had previously closed at $21.71, but opened at $22.50. NuScale Power shares last traded at $21.99, with a volume of 3,886,048 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMR. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. Craig Hallum boosted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Trading Down 4.1 %

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 has a market cap of $5.32 billion, a price-to-earnings ratio of -21.56 and a beta of 1.33. The company’s fifty day moving average is $21.94 and its two-hundred day moving average is $14.29.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated 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 of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert K. Temple sold 75,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $168,648. The trade was a 84.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,237 shares of company stock valued at $6,005,215 in the last 90 days. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. Franklin Resources Inc. purchased a new position in NuScale Power in the third quarter valued at $555,000. Tidal Investments LLC purchased a new position in NuScale Power in the third quarter valued at about $118,000. Barclays PLC boosted its holdings in shares of NuScale Power by 472.3% in the 3rd quarter. Barclays PLC now owns 150,791 shares of the company’s stock valued at $1,746,000 after buying an additional 124,441 shares during the period. Geode Capital Management LLC grew its holdings in shares of NuScale Power by 21.0% in 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 during the last quarter. Finally, State Street Corp boosted its holdings in 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 acquiring an additional 154,368 shares during the period. 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.