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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped up before the market opened on Thursday . The stock had previously closed at $22.40, but opened at $22.99. NuScale Power shares last traded at $23.32, with a volume of 2,033,796 shares traded.

Analysts Set New Price Targets

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

NuScale Power Stock Down 3.3 %

The firm has a market capitalization of $5.53 billion, a P/E ratio of -22.81 and a beta of 1.33. The business has a 50 day moving average price of $21.43 and a 200 day moving average price of $13.95. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Transactions at NuScale Power

In other NuScale Power news, 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 value of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $9.57, for a total value of $47,850.00. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 427,237 shares of company stock worth $6,053,065 over the last three months. 1.96% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of institutional investors have recently bought and sold shares of SMR. Price T Rowe Associates Inc. MD lifted its stake in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock worth $106,000 after purchasing an additional 4,014 shares during the period. SG Americas Securities LLC boosted its stake in NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company's stock valued at $2,167,000 after buying an additional 131,570 shares in the last quarter. Brookstone Capital Management bought a new stake in NuScale Power in the second quarter valued at $126,000. Greylin Investment Management Inc acquired a new position in NuScale Power during the second quarter worth $410,000. Finally, Hobbs Group Advisors LLC bought a new position in shares of NuScale Power during the second quarter valued at $311,000. Institutional investors and hedge funds 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.