NuScale Power (NYSE:SMR) Shares Gap Down - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $21.72, but opened at $20.53. NuScale Power shares last traded at $19.75, with a volume of 1,932,999 shares.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price for the company. Craig Hallum upped their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Trading Down 9.1 %

The stock has a market capitalization of $5.04 billion, a P/E ratio of -20.78 and a beta of 1.47. 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 business has a 50-day moving average price of $22.84 and a two-hundred day moving average price of $15.49.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total value 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 sale was disclosed in a document filed with the SEC, which is available 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 stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares of the company's stock, valued at $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 798,620 shares of company stock worth $14,624,962 over the last three months. Insiders own 1.96% of the company's stock.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently added to or reduced their stakes in SMR. Bank of New York Mellon Corp boosted its position in shares of NuScale Power by 97.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock worth $3,256,000 after purchasing an additional 137,382 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in NuScale Power in the second quarter valued at approximately $123,000. Commonwealth Equity Services LLC increased its holdings in shares of NuScale Power by 85.9% during the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company's stock valued at $917,000 after acquiring an additional 36,236 shares in the last quarter. Rhumbline Advisers raised its position in shares of NuScale Power by 62.9% during the second quarter. Rhumbline Advisers now owns 104,341 shares of the company's stock worth $1,220,000 after purchasing an additional 40,305 shares during the period. Finally, Quest Partners LLC bought a new position in shares of NuScale Power in the 2nd quarter worth $115,000. Institutional investors and hedge funds 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.