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 Wednesday . The stock had previously closed at $21.72, but opened at $20.53. NuScale Power shares last traded at $19.75, with a volume of 1,932,999 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SMR shares. Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One investment 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 data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Down 11.1 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The company has a market cap of $4.93 billion, a P/E ratio of -20.32 and a beta of 1.47. The stock has a 50 day moving average price of $22.84 and a 200 day moving average price of $15.49.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction 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 directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 798,620 shares of company stock valued at $14,624,962 in the last quarter. Insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. Van ECK Associates Corp boosted its holdings in shares of NuScale Power by 90.0% during the 3rd 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 during the period. Charles Schwab Investment Management Inc. boosted its stake in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares in the last quarter. Geode Capital Management LLC increased its stake in NuScale Power by 21.0% in the third 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 during the period. TimesSquare Capital Management LLC bought a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $2,895,000. Finally, State Street Corp raised its stake in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after acquiring an additional 154,368 shares in the last quarter. Institutional investors and hedge funds 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.