NuScale Power (NYSE:SMR) Shares Gap Up – Should You Buy?

NuScale Power Co. (NYSE:SMR)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $21.97, but opened at $23.86. NuScale Power shares last traded at $22.84, with a volume of 3,634,638 shares traded.

Wall Street Analyst Weigh In

Separately, Craig Hallum lifted their target price on 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 issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm’s 50-day simple moving average is $22.80 and its 200 day simple moving average is $16.23.

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

Insider Buying and Selling

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

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in SMR. Toth Financial Advisory Corp lifted its position in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after acquiring an additional 1,800 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the third quarter worth approximately $44,000. US Bancorp DE acquired a new stake in NuScale Power during the 3rd quarter worth approximately $54,000. CWM LLC boosted its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares during the period. Finally, Union Bancaire Privee UBP SA acquired a new position in NuScale Power in the 4th quarter valued at $67,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.