NuScale Power (NYSE:SMR) Shares Gap Up on Better-Than-Expected Earnings

NuScale Power Co. (NYSE:SMR)’s share price gapped up prior to trading on Tuesday following a better than expected earnings announcement. The stock had previously closed at $17.79, but opened at $18.65. NuScale Power shares last traded at $20.55, with a volume of 4,782,804 shares changing hands.

The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analysts’ expectations of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SMR shares. UBS Group cut their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. BTIG Research assumed coverage on NuScale Power in a report on Friday, April 11th. They set a “buy” rating and a $20.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and an average price target of $16.60.

Insider Activity

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at $16,683.48. This represents a 95.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 22,674 shares of the stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $16.74, for a total value of $379,562.76. Following the sale, the chief executive officer now owns 26,345 shares in the company, valued at approximately $441,015.30. This trade represents a 46.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,047 shares of company stock worth $2,514,898 in the last ninety days. Corporate insiders own 1.27% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Several large investors have recently made changes to their positions in SMR. CoreCap Advisors LLC bought a new position in NuScale Power during the 4th quarter worth approximately $33,000. Venturi Wealth Management LLC lifted its position in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after purchasing an additional 1,500 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in NuScale Power by 600.0% in the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after acquiring an additional 1,800 shares during the last quarter. Twin Tree Management LP acquired a new stake in NuScale Power in the 4th quarter valued at about $42,000. Finally, Amalgamated Bank boosted its stake in shares of NuScale Power by 51.8% during the 4th quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock worth $52,000 after acquiring an additional 986 shares during the period. Institutional investors and hedge funds own 78.37% of the company’s stock.

NuScale Power Stock Performance

The stock’s 50-day simple moving average is $16.02 and its 200 day simple moving average is $20.14. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The stock has a market capitalization of $5.85 billion, a P/E ratio of -21.73 and a beta of 1.62.

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.