NuScale Power (NYSE:SMR) Shares Gap Up – Time to Buy?

NuScale Power Co. (NYSE:SMR)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $13.62, but opened at $14.92. NuScale Power shares last traded at $16.08, with a volume of 7,972,965 shares changing hands.

Analyst Ratings Changes

Several research firms have issued reports on SMR. B. Riley boosted 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. Craig Hallum began coverage on NuScale Power in a report on Thursday, September 26th. They set a “buy” rating and a $16.00 price target for the company. Finally, CLSA began coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price target 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $9.68.

NuScale Power Stock Performance

The stock has a market cap of $4.44 billion, a P/E ratio of -20.28 and a beta of 1.25. 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 business has a 50 day moving average price of $9.98 and a two-hundred day moving average price of $9.00.

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

Insider Activity at NuScale Power

In related news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of the company’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the sale, the insider now directly owns 14,054 shares in the company, valued at $182,983.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Carl M. Fisher sold 12,302 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares in the company, valued at approximately $266,539.17. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 374,729 shares of company stock valued at $4,178,595. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swedbank AB purchased a new stake in NuScale Power during the first quarter valued at approximately $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power in the second quarter worth approximately $7,600,000. Bank of New York Mellon Corp raised its holdings in shares of NuScale Power by 97.3% in the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the period. Rheos Capital Works Inc. purchased a new stake in shares of NuScale Power in the first quarter worth approximately $1,328,000. Finally, Wedbush Securities Inc. raised its holdings in shares of NuScale Power by 84.9% in the second quarter. Wedbush Securities Inc. now owns 188,600 shares of the company’s stock worth $2,205,000 after buying an additional 86,600 shares during the period. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

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.