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

NuScale Power Co. (NYSE:SMR)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $18.96, but opened at $18.45. NuScale Power shares last traded at $17.64, with a volume of 4,453,752 shares traded.

Analyst Ratings Changes

A number of brokerages recently weighed in on SMR. Craig Hallum lifted 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 started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. Finally, B. Riley upped their price target on shares of NuScale Power from $8.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $10.90 and its 200-day moving average price is $9.44.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The business had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. During the same quarter last year, the firm posted ($0.13) EPS.

Insider Transactions at NuScale Power

In related news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total value of $108,134.58. Following the completion of the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of NuScale Power stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at $460,294.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 490,595 shares of company stock valued at $6,287,356 over the last three months. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Large investors have recently made changes to their positions in the business. CWM LLC grew its position in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power in the 2nd quarter worth about $64,000. TFC Financial Management Inc. acquired a new stake in shares of NuScale Power during the 2nd quarter valued at about $75,000. Fortitude Family Office LLC bought a new stake in shares of NuScale Power in the 2nd quarter valued at approximately $98,000. Finally, Quest Partners LLC bought a new position in NuScale Power during the second quarter valued at approximately $115,000. 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.