NuScale Power (NYSE:SMR) Shares Gap Up to $12.39

Shares of NuScale Power Co. (NYSE:SMR) gapped up before the market opened on Thursday . The stock had previously closed at $12.39, but opened at $13.13. NuScale Power shares last traded at $11.94, with a volume of 2,552,410 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SMR shares. B. Riley raised their target price on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Craig Hallum initiated coverage on NuScale Power in a research note on Thursday, September 26th. They set a “buy” rating and a $16.00 price objective for the company. Finally, CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.68.

NuScale Power Stock Down 3.1 %

The business’s 50 day moving average is $9.37 and its 200 day moving average is $8.52. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of -13.78 and a beta of 1.22.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same quarter in the prior year, the company earned ($0.13) EPS.

Insiders Place Their Bets

In other news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the sale, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at $266,539.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 75,000 shares of the company’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $168,648. The disclosure for this sale can be found here. Insiders sold 306,171 shares of company stock valued at $3,285,970 over the last 90 days. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. acquired a new stake in NuScale Power during the 1st quarter worth $53,000. Avantax Advisory Services Inc. acquired a new stake in shares of NuScale Power during the first quarter worth $58,000. International Assets Investment Management LLC bought a new stake in NuScale Power in the second quarter valued at about $64,000. TFC Financial Management Inc. acquired a new position in NuScale Power in the second quarter valued at about $75,000. Finally, Resurgent Financial Advisors LLC boosted its holdings in NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after buying an additional 7,400 shares during 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.