NuScale Power (NYSE:SMR) Shares Gap Up - Still a Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $21.97, but opened at $23.86. NuScale Power shares last traded at $22.84, with a volume of 3,634,638 shares.

Analyst Ratings Changes

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 research note 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 issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Price Performance

The stock has a market capitalization of $6.52 billion, a PE ratio of -26.87 and a beta of 1.47. The stock's 50 day moving average price is $22.79 and its 200-day moving average price is $16.16. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) earnings per share (EPS) for the quarter. The company had revenue of $0.48 million during the quarter, compared to analysts' expectations 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 last year, the firm earned ($0.26) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now owns 3,801 shares of the company's stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares of the company's stock, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Catalina Capital Group LLC boosted its position in NuScale Power by 6.8% during the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company's stock valued at $146,000 after purchasing an additional 809 shares in the last quarter. HighTower Advisors LLC boosted 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 valued at $140,000 after buying an additional 820 shares in the last quarter. Indie Asset Partners LLC grew its position in shares of NuScale Power by 7.1% in the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock worth $218,000 after buying an additional 1,250 shares during the last quarter. Toth Financial Advisory Corp grew its position in shares of NuScale Power by 600.0% in the 4th quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company's stock worth $38,000 after buying an additional 1,800 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the 3rd quarter worth approximately $44,000. 78.37% of the stock is currently 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.