NuScale Power (NYSE:SMR) Shares Gap Up – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $21.71, but opened at $22.50. NuScale Power shares last traded at $21.99, with a volume of 3,886,048 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SMR. Craig Hallum increased their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA started coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Down 0.5 %

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 company has a 50-day moving average price of $22.23 and a 200 day moving average price of $14.36. The firm has a market cap of $4.85 billion, a price-to-earnings ratio of -20.01 and a beta of 1.33.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’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 sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 277,610 shares of company stock worth $4,428,780 in the last quarter. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Geode Capital Management LLC raised its holdings in NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp raised its stake in shares of NuScale Power by 10.2% in the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Van ECK Associates Corp boosted its stake in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after acquiring an additional 128,012 shares during the period. 78.37% 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.