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

NuScale Power Co. (NYSE:SMR)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $20.27, but opened at $21.35. NuScale Power shares last traded at $20.10, with a volume of 3,615,163 shares.

Analyst Ratings Changes

Separately, Craig Hallum lifted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, NuScale Power presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company has a fifty day moving average of $22.85 and a 200 day moving average of $16.51. The firm has a market capitalization of $4.98 billion, a P/E ratio of -20.36 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. The firm had revenue of $0.48 million during the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same quarter in the prior year, the business earned ($0.26) earnings per share.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated 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 sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently made changes to their positions in the business. Canal Insurance CO boosted its holdings in NuScale Power by 35.0% in the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after acquiring an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after purchasing an additional 86,454 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of NuScale Power by 204.0% in the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock worth $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Finally, Stifel Financial Corp raised its stake in shares of NuScale Power by 581.8% in the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock worth $1,371,000 after purchasing an additional 100,995 shares during the last quarter. 78.37% of the stock is 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.