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

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.

Wall Street Analysts Forecast Growth

SMR has been the subject of several recent analyst reports. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. B. Riley lifted their price target on shares of NuScale Power from $8.00 to $14.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Finally, Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

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

NuScale Power (NYSE:SMR) last announced its quarterly earnings data 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 company had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. During the same period in the prior year, the company posted ($0.13) EPS.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now owns 14,054 shares in the company, valued at $134,496.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently modified their holdings of SMR. Avantax Advisory Services Inc. bought a new stake in NuScale Power in the first quarter valued at $58,000. 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 worth $61,000 after purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power during the 2nd quarter valued at about $64,000. TFC Financial Management Inc. acquired a new position in NuScale Power in the second quarter valued at about $75,000. Finally, Resurgent Financial Advisors LLC grew its stake in NuScale Power by 100.0% during the first quarter. Resurgent Financial Advisors LLC now owns 14,800 shares of the company’s stock worth $79,000 after buying an additional 7,400 shares during the last quarter. 15.28% of the stock is currently owned by 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.