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

NuScale Power Co. (NYSE:SMR)’s share price gapped down before the market opened on Monday . The stock had previously closed at $19.01, but opened at $18.26. NuScale Power shares last traded at $17.70, with a volume of 2,915,851 shares.

Analysts Set New Price Targets

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

NuScale Power Stock Up 1.9 %

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.66 and a quick ratio of 2.66. The company has a 50 day simple moving average of $12.81 and a 200-day simple moving average of $10.34.

NuScale Power (NYSE:SMR) last issued its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. The firm had revenue of $0.97 million during the quarter, compared to the consensus estimate of $1.43 million. During the same quarter in the prior year, the business posted ($0.13) EPS.

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 115,866 shares of the firm’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 value of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Robert K. Temple sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $10.00, for a total transaction of $500,000.00. Following the completion of the transaction, the insider now owns 19,054 shares of the company’s stock, valued at $190,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction 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 transaction, the insider now owns 14,054 shares of the company’s stock, valued at $255,782.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 478,293 shares of company stock valued at $6,179,222. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently made changes to their positions in the stock. US Bancorp DE purchased a new stake in NuScale Power during the 3rd quarter valued at $54,000. Avantax Advisory Services Inc. bought a new stake in shares of NuScale Power in the first quarter worth about $58,000. CWM LLC grew its holdings in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of NuScale Power during the 2nd quarter worth approximately $64,000. Finally, TFC Financial Management Inc. purchased a new position in shares of NuScale Power in the second quarter valued at $75,000. 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.