NuScale Power (NYSE:SMR) Shares Gap Down – Here’s Why

NuScale Power Co. (NYSE:SMR)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $21.72, but opened at $20.53. NuScale Power shares last traded at $19.75, with a volume of 1,932,999 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SMR. Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of -21.09 and a beta of 1.47. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $22.83 and a two-hundred day moving average price of $15.55.

Insiders Place Their Bets

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 798,620 shares of company stock valued at $14,624,962 over the last three months. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power in the 3rd quarter worth approximately $44,000. US Bancorp DE bought a new position in NuScale Power during the 3rd quarter valued at $54,000. CWM LLC increased its position in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the period. Quest Partners LLC bought a new stake in shares of NuScale Power in the 2nd quarter worth $115,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of NuScale Power in the third quarter valued at $116,000. Institutional investors own 78.37% of the company’s stock.

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.