NuScale Power (NYSE:SMR) Shares Gap Down – What’s Next?

Shares of NuScale Power Co. (NYSE:SMR) gapped down before the market opened on Monday . The stock had previously closed at $19.01, but opened at $18.26. NuScale Power shares last traded at $17.70, with a volume of 2,915,851 shares.

Analysts Set New Price Targets

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

NuScale Power Stock Down 3.4 %

The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $4.57 billion, a price-to-earnings ratio of -17.66 and a beta of 1.11. The firm has a 50 day moving average of $12.60 and a two-hundred day moving average of $10.25.

NuScale Power (NYSE:SMR) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The firm had revenue of $0.97 million for the quarter, compared to analyst estimates of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period last year, the business earned ($0.13) EPS.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 490,595 shares of company stock worth $6,287,356. Corporate insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SMR. TimesSquare Capital Management LLC bought a new stake in shares of NuScale Power in the 3rd quarter worth approximately $2,895,000. Philip James Wealth Mangement LLC bought a new stake in shares of NuScale Power in the third quarter valued at $1,656,000. Canal Insurance CO lifted its position in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after buying an additional 56,000 shares during the last quarter. Catalina Capital Group LLC increased its holdings in NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after acquiring an additional 809 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares during the period. Institutional investors own 15.28% 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.