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

NuScale Power Co. (NYSE:SMR) shares gapped up prior to trading on Thursday . The stock had previously closed at $17.93, but opened at $18.57. NuScale Power shares last traded at $18.28, with a volume of 1,545,194 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on SMR shares. Craig Hallum increased their price target on 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 NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

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 firm has a market capitalization of $5.32 billion, a price-to-earnings ratio of -21.95 and a beta of 1.33. The stock’s fifty day moving average is $22.80 and its two-hundred day moving average is $15.23.

Insider Buying and Selling

In related news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

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