NuScale Power (NYSE:SMR) Shares Gap Down to $15.56

NuScale Power Co. (NYSE:SMR) shares gapped down before the market opened on Wednesday . The stock had previously closed at $15.56, but opened at $14.86. NuScale Power shares last traded at $15.00, with a volume of 971,217 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SMR. B. Riley raised their price target on NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. UBS Group increased their price objective on NuScale Power from $2.00 to $10.00 and gave the company a “neutral” rating in a report on Tuesday, March 19th. Finally, Wells Fargo & Company reissued an “underweight” rating and set a $4.50 price objective (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $8.15.

NuScale Power Trading Down 10.9 %

The stock has a market cap of $3.37 billion, a price-to-earnings ratio of -16.87 and a beta of 1.25. The stock has a fifty day simple moving average of $9.44 and a 200-day simple moving average of $6.03.

NuScale Power (NYSE:SMR) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.21) earnings per share for the quarter, hitting the consensus estimate of ($0.21). The company had revenue of $1.38 million for the quarter, compared to analyst estimates of $3.15 million. NuScale Power had a negative return on equity of 38.66% and a negative net margin of 342.39%. During the same quarter last year, the firm earned ($0.16) EPS. Sell-side analysts forecast that NuScale Power Co. will post -0.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Robert K. Temple sold 23,806 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $6.07, for a total transaction of $144,502.42. Following the completion of the transaction, the general counsel now owns 19,054 shares in the company, valued at approximately $115,657.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CTO Jose N. Reyes, Jr. sold 15,776 shares of NuScale Power stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.04, for a total value of $95,287.04. Following the completion of the sale, the chief technology officer now directly owns 478,306 shares of the company’s stock, valued at approximately $2,888,968.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction on Monday, May 6th. The shares were sold at an average price of $6.07, for a total value of $144,502.42. Following the completion of the sale, the general counsel now directly owns 19,054 shares of the company’s stock, valued at $115,657.78. The disclosure for this sale can be found here. Insiders sold 56,131 shares of company stock worth $339,745 in the last 90 days. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Vanguard Group Inc. grew its stake in shares of NuScale Power by 3.8% during the third quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after purchasing an additional 204,505 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new position in NuScale Power in the fourth quarter valued at about $36,000. Global Retirement Partners LLC acquired a new position in NuScale Power in the fourth quarter valued at about $25,000. Arizona State Retirement System acquired a new position in NuScale Power in the fourth quarter valued at about $34,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in NuScale Power by 5.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock valued at $11,159,000 after acquiring an additional 172,408 shares during the period. 15.28% of the stock is owned by institutional investors and hedge funds.

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.