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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $29.65, but opened at $31.47. NuScale Power shares last traded at $29.76, with a volume of 3,001,553 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. CLSA initiated 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 lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, NuScale Power currently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Down 8.2 %

The business's 50 day simple moving average is $19.23 and its 200 day simple moving average is $12.96. 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 firm has a market capitalization of $6.95 billion, a PE ratio of -30.55 and a beta of 1.12.

Insiders Place Their Bets

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction on Friday, September 13th. The shares were sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company's stock, valued at $134,496.78. The trade was a 26.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 409,051 shares of company stock valued at $5,525,671 over the last ninety days. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

Several hedge funds have recently bought and sold shares of SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power during the 3rd quarter valued at $44,000. US Bancorp DE bought a new stake in NuScale Power during the third quarter valued at about $54,000. CWM LLC grew its stake in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company's stock valued at $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power in the second quarter worth about $64,000. Finally, TFC Financial Management Inc. purchased a new stake in shares of NuScale Power during the second quarter valued at about $75,000. 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.