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

NuScale Power Co. (NYSE:SMR) shares gapped up before the market opened on Tuesday . The stock had previously closed at $32.03, but opened at $34.85. NuScale Power shares last traded at $32.48, with a volume of 8,660,113 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SMR shares. Canaccord Genuity Group set a $35.00 price target on NuScale Power and gave the stock a “buy” rating in a research report on Thursday, May 29th. The Goldman Sachs Group set a $24.00 target price on shares of NuScale Power and gave the company a “neutral” rating in a research report on Tuesday, May 20th. BTIG Research reiterated a “buy” rating on shares of NuScale Power in a research report on Tuesday, May 13th. UBS Group lifted their target price on shares of NuScale Power from $17.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Finally, CLSA set a $41.00 target price on shares of NuScale Power and gave the company an “outperform” rating in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and an average target price of $27.00.

NuScale Power Stock Down 1.6%

The stock has a market capitalization of $8.89 billion, a price-to-earnings ratio of -32.92 and a beta of 2.00. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average is $19.94 and its two-hundred day moving average is $20.93.

NuScale Power (NYSE:SMR) last released its earnings results on Monday, May 12th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.06. The business had revenue of $13.38 million for the quarter, compared to analyst estimates of $1.46 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. Equities analysts anticipate that NuScale Power Co. will post -0.73 EPS for the current year.

Insider Transactions at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 1,565 shares of the business’s stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $16.94, for a total value of $26,511.10. Following the transaction, the vice president now directly owns 1,218 shares in the company, valued at $20,632.92. The trade was a 56.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. The trade was a 6.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 159,774 shares of company stock worth $2,780,768 in the last ninety days. Insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently made changes to their positions in SMR. Quantbot Technologies LP purchased a new stake in shares of NuScale Power in the 1st quarter valued at approximately $27,000. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power in the 4th quarter valued at approximately $33,000. Venturi Wealth Management LLC raised its stake in shares of NuScale Power by 313.8% in the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the period. Twin Tree Management LP purchased a new stake in NuScale Power during the 4th quarter worth approximately $42,000. Finally, NBC Securities Inc. increased its stake in NuScale Power by 165,450.0% during the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after buying an additional 3,309 shares during the period. 78.37% 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.