NuScale Power (NYSE:SMR) Shares Gap Up - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $20.27, but opened at $21.35. NuScale Power shares last traded at $20.10, with a volume of 3,615,163 shares changing hands.

Wall Street Analyst Weigh In

Separately, Craig Hallum lifted their price target 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 analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.42.

NuScale Power Stock Performance

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 business has a 50 day moving average price of $22.65 and a two-hundred day moving average price of $16.59. The stock has a market cap of $6.02 billion, a PE ratio of -24.84 and a beta of 1.47.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same period in the previous year, the company earned ($0.26) EPS.

Insider Buying and Selling

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the firm'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. This trade represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm'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 completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Hsbc Holdings PLC purchased a new position in shares of NuScale Power during the 2nd quarter valued at $126,000. Sei Investments Co. bought a new stake in NuScale Power during the second quarter valued at about $520,000. Squarepoint Ops LLC purchased a new position in shares of NuScale Power in the second quarter valued at about $783,000. The Manufacturers Life Insurance Company lifted its position in shares of NuScale Power by 37.7% in the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company's stock valued at $345,000 after acquiring an additional 8,096 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of NuScale Power in the second quarter worth about $419,000. Institutional investors 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.