NuScale Power (NYSE:SMR) Shares Gap Down - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped down before the market opened 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.

Analysts Set New Price Targets

A number of brokerages have issued reports on SMR. CLSA assumed coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price target on the stock. Craig Hallum raised their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note 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.com, NuScale Power currently has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Trading Up 2.8 %

The stock's 50 day moving average is $21.59 and its 200-day moving average is $14.11. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $5.55 billion, a P/E ratio of -21.76 and a beta of 1.33.

Insider Transactions at NuScale Power

In other NuScale Power 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 value of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, insider Robert K. Temple sold 144,627 shares of the firm's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares of the company's stock, valued at $153,188.60. The trade was a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 422,237 shares of company stock valued at $6,005,215. Corporate insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

Institutional investors have recently bought and sold shares of the company. Catalina Capital Group LLC lifted its stake in shares of NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company's stock worth $146,000 after buying an additional 809 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of NuScale Power by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock worth $140,000 after purchasing an additional 820 shares in the last quarter. Indie Asset Partners LLC raised its stake in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock worth $218,000 after purchasing an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the third quarter valued at $44,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock valued at $106,000 after buying an additional 4,014 shares during the last quarter. 78.37% of the stock is owned by hedge funds and other institutional investors.

About NuScale Power

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.