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

NuScale Power Co. (NYSE:SMR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.13, but opened at $20.28. NuScale Power shares last traded at $20.33, with a volume of 3,087,124 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on SMR. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target for the company. Craig Hallum upped their price target on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, NuScale Power has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of -21.76 and a beta of 1.33. 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 company has a 50 day moving average price of $21.59 and a 200 day moving average price of $14.11.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the business’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 completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 144,627 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. The trade was a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 422,237 shares of company stock worth $6,005,215 over the last 90 days. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Price T Rowe Associates Inc. MD increased its holdings in shares of NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after acquiring an additional 4,014 shares in the last quarter. Brookstone Capital Management acquired a new position in NuScale Power during the second quarter valued at approximately $126,000. TFC Financial Management Inc. acquired a new position in NuScale Power during the second quarter valued at approximately $75,000. Catalina Capital Group LLC acquired a new position in NuScale Power during the second quarter valued at approximately $138,000. Finally, Bank of New York Mellon Corp boosted its position 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 purchasing an additional 137,382 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.

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.