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

NuScale Power Co. (NYSE:SMR) shares gapped down prior to trading on Monday . The stock had previously closed at $23.84, but opened at $21.45. NuScale Power shares last traded at $22.58, with a volume of 4,498,048 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum lifted their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $11.42.

NuScale Power Stock Performance

The business’s 50-day moving average is $22.29 and its 200 day moving average is $16.88. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

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

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’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 value 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 position. The disclosure for this sale can be found here. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC grew its position in shares of NuScale Power by 313.8% during the 4th quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after acquiring an additional 1,500 shares during the period. Toth Financial Advisory Corp lifted its stake in NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power during the third quarter valued at approximately $44,000. Amalgamated Bank grew its holdings in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company’s stock valued at $52,000 after purchasing an additional 986 shares in the last quarter. Finally, US Bancorp DE bought a new stake in shares of NuScale Power in the 3rd quarter worth about $54,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

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.