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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $24.85, but opened at $24.29. NuScale Power shares last traded at $23.95, with a volume of 3,478,309 shares.

Analyst Upgrades and Downgrades

SMR has been the topic of a number of analyst reports. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. CLSA assumed coverage on shares of NuScale Power in a report on Friday, September 13th. They set an "outperform" rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Down 2.1 %

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 has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $13.32. The firm has a market capitalization of $6.22 billion, a P/E ratio of -24.69 and a beta of 1.33.

Insider Activity at NuScale Power

In other news, 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 transaction of $527,394.00. Following 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction that occurred 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. This represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,237 shares of company stock valued at $6,053,065. Corporate insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

Several hedge funds have recently made changes to their positions in SMR. Franklin Resources Inc. purchased a new position in shares of NuScale Power in the 3rd quarter worth approximately $555,000. Tidal Investments LLC bought a new position in shares of NuScale Power during the third quarter valued at approximately $118,000. Barclays PLC grew its stake in shares of NuScale Power by 472.3% during the third quarter. Barclays PLC now owns 150,791 shares of the company's stock valued at $1,746,000 after buying an additional 124,441 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock worth $21,194,000 after acquiring an additional 317,285 shares during the last quarter. Finally, State Street Corp boosted its holdings in NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company's stock valued at $19,396,000 after acquiring an additional 154,368 shares during the period. 15.28% of the stock is currently 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.