NuScale Power (NYSE:SMR) Shares Gap Up to $11.59

NuScale Power Co. (NYSE:SMR) gapped up before the market opened on Friday . The stock had previously closed at $11.59, but opened at $11.99. NuScale Power shares last traded at $11.98, with a volume of 951,060 shares changing hands.

Analyst Ratings Changes

SMR has been the subject of several recent research reports. Wells Fargo & Company reissued an “underweight” rating and issued a $4.50 price target (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. B. Riley boosted 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. Canaccord Genuity Group lifted their price objective on shares of NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, UBS Group raised their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, NuScale Power presently has an average rating of “Hold” and a consensus price target of $8.15.

NuScale Power Price Performance

The firm has a market capitalization of $2.91 billion, a price-to-earnings ratio of -14.06 and a beta of 1.25. The business has a fifty day moving average price of $8.15 and a two-hundred day moving average price of $5.40.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.21) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.21). The company had revenue of $1.38 million during the quarter, compared to analyst estimates of $3.15 million. NuScale Power had a negative net margin of 342.39% and a negative return on equity of 38.66%. During the same period last year, the firm posted ($0.16) EPS. On average, research analysts predict that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Clayton Scott sold 7,191 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $6.04, for a total transaction of $43,433.64. Following the sale, the insider now directly owns 43,549 shares of the company’s stock, valued at $263,035.96. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NuScale Power news, insider Clayton Scott sold 7,191 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $43,433.64. Following the completion of the transaction, the insider now owns 43,549 shares in the company, valued at $263,035.96. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jose N. Reyes, Jr. sold 15,776 shares of NuScale Power stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $6.04, for a total value of $95,287.04. Following the completion of the transaction, the chief technology officer now owns 478,306 shares of the company’s stock, valued at approximately $2,888,968.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 56,131 shares of company stock valued at $339,745. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently modified their holdings of the stock. Swedbank AB purchased a new position in NuScale Power in the 1st quarter valued at about $18,585,000. Virtu Financial LLC purchased a new position in NuScale Power in the 1st quarter valued at $98,000. Price T Rowe Associates Inc. MD grew its holdings in shares of NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after buying an additional 4,014 shares in the last quarter. Resurgent Financial Advisors LLC raised its position in shares of NuScale Power by 100.0% in the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock valued at $79,000 after buying an additional 7,400 shares during the last quarter. Finally, Avantax Advisory Services Inc. purchased a new position in shares of NuScale Power in the first quarter worth about $58,000. Institutional investors and hedge funds own 15.28% of the company’s stock.

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.