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

NuScale Power Co. (NYSE:SMR)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $19.01, but opened at $18.26. NuScale Power shares last traded at $17.70, with a volume of 2,915,851 shares changing hands.

Analyst Ratings Changes

Several analysts have issued reports on SMR shares. CLSA assumed coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. Craig Hallum upped their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Up 1.9 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average of $12.81 and a two-hundred day moving average of $10.34.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.43 million. During the same quarter in the prior year, the company posted ($0.13) EPS.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction on Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the transaction, the insider now owns 14,054 shares in the company, valued at $182,983.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 478,293 shares of company stock worth $6,179,222 over the last three months. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently bought and sold shares of the company. Avantax Advisory Services Inc. acquired a new stake in NuScale Power in the 1st quarter valued at approximately $58,000. SG Americas Securities LLC grew its holdings in shares of NuScale Power by 268.3% in the first quarter. SG Americas Securities LLC now owns 53,772 shares of the company’s stock valued at $286,000 after purchasing an additional 39,171 shares in the last quarter. International Assets Investment Management LLC increased its stake in NuScale Power by 1,984.4% during the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company’s stock worth $1,328,000 after buying an additional 109,142 shares during the period. Van ECK Associates Corp acquired a new stake in NuScale Power during the 2nd quarter worth approximately $7,600,000. Finally, Brookstone Capital Management purchased a new position in NuScale Power in the 2nd quarter valued at approximately $126,000. 15.28% of the stock is 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.