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

NuScale Power Co. (NYSE:SMR) gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 3.4 %

The company has a market cap of $4.57 billion, a P/E ratio of -17.66 and a beta of 1.11. The stock has a 50-day moving average of $12.60 and a two-hundred day moving average of $10.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66.

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

Insider Transactions at NuScale Power

In other news, insider Robert K. Temple sold 50,000 shares of the 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 sale, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert K. Temple sold 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $10.00, for a total value of $500,000.00. Following the transaction, the insider now owns 19,054 shares of the company’s stock, valued at approximately $190,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 490,595 shares of company stock worth $6,287,356. Company insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

A number of large investors have recently modified their holdings of the stock. Swedbank AB purchased a new position in NuScale Power during the first quarter valued at $18,585,000. Van ECK Associates Corp bought a new stake in shares of NuScale Power in the 2nd quarter worth approximately $7,600,000. TimesSquare Capital Management LLC purchased a new stake in shares of NuScale Power in the 3rd quarter worth approximately $2,895,000. Philip James Wealth Mangement LLC bought a new position in NuScale Power during the 3rd quarter valued at approximately $1,656,000. Finally, Bank of New York Mellon Corp raised its stake in NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock valued at $3,256,000 after buying an additional 137,382 shares during the last quarter. Institutional investors own 15.28% of the company’s stock.

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.