NuScale Power (NYSE:SMR) Shares Gap Up to $12.39

NuScale Power Co. (NYSE:SMR)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $12.39, but opened at $13.13. NuScale Power shares last traded at $11.94, with a volume of 2,552,410 shares.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. CLSA started coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. Craig Hallum initiated coverage on shares of NuScale Power in a report on Thursday, September 26th. They set a “buy” rating and a $16.00 target price on the stock. Finally, B. Riley upped their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.68.

NuScale Power Trading Down 3.1 %

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The business has a 50 day moving average price of $9.37 and a 200-day moving average price of $8.52. The company has a market cap of $2.99 billion, a P/E ratio of -13.78 and a beta of 1.22.

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). The firm had revenue of $0.97 million during the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same quarter in the prior year, the business earned ($0.13) EPS.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 50,000 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now directly owns 19,054 shares in the company, valued at approximately $190,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 50,000 shares of NuScale Power stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the completion of the sale, the insider now owns 19,054 shares in the company, valued at approximately $190,540. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $12.00, for a total transaction of $900,000.00. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $168,648. The disclosure for this sale can be found here. Insiders sold a total of 306,171 shares of company stock valued at $3,285,970 over the last ninety days. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC bought a new position in NuScale Power in the 2nd quarter valued at about $64,000. TFC Financial Management Inc. acquired a new stake in shares of NuScale Power during the 2nd quarter worth approximately $75,000. Fortitude Family Office LLC bought a new position in NuScale Power in the second quarter valued at approximately $98,000. Quest Partners LLC acquired a new position in NuScale Power during the second quarter valued at approximately $115,000. Finally, Mesirow Financial Investment Management Inc. bought a new stake in NuScale Power during the first quarter worth $53,000. 15.28% of the stock is owned by institutional investors and hedge funds.

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.