NuScale Power (NYSE:SMR) Shares Gap Down to $9.11

NuScale Power Co. (NYSE:SMR)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $9.11, but opened at $8.16. NuScale Power shares last traded at $8.45, with a volume of 1,402,175 shares traded.

Analysts Set New Price Targets

Separately, B. Riley increased their price target on NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $8.15.

NuScale Power Price Performance

The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of -9.87 and a beta of 1.25. The business has a fifty day moving average price of $10.47 and a 200 day moving average price of $6.66.

NuScale Power (NYSE:SMR) last released its 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 firm 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 period in the previous year, the company earned ($0.16) earnings per share. Research analysts anticipate that NuScale Power Co. will post -0.55 earnings per share for the current year.

Insider Buying and Selling

In related news, General Counsel Robert K. Temple sold 23,806 shares of NuScale Power stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $6.07, for a total value of $144,502.42. Following the transaction, the general counsel now owns 19,054 shares of the company’s stock, valued at approximately $115,657.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in NuScale Power by 3.8% in the 3rd quarter. Vanguard Group Inc. now owns 5,536,389 shares of the company’s stock worth $27,128,000 after acquiring an additional 204,505 shares during the period. Swedbank AB bought a new position in NuScale Power in the 1st quarter worth $18,585,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NuScale Power by 5.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,391,670 shares of the company’s stock worth $11,159,000 after acquiring an additional 172,408 shares during the period. Van ECK Associates Corp bought a new position in NuScale Power in the 2nd quarter worth $7,600,000. Finally, Bank of New York Mellon Corp raised its holdings in NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after acquiring an additional 137,382 shares during the period. 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.