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

NuScale Power Co. (NYSE:SMR)’s share price gapped up prior to trading 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 changing hands.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, NuScale Power has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock 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 company’s 50-day moving average is $22.74 and its two-hundred day moving average is $16.07. The firm has a market cap of $6.35 billion, a P/E ratio of -26.12 and a beta of 1.47.

Insider Activity at NuScale Power

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

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the 3rd quarter valued at about $44,000. US Bancorp DE bought a new stake in NuScale Power during the 3rd quarter valued at $54,000. CWM LLC grew its holdings in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of NuScale Power in the third quarter valued at about $116,000. Finally, TRUE Private Wealth Advisors bought a new stake in shares of NuScale Power in the third quarter worth about $117,000. 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.