NuScale Power (NYSE:SMR) Shares Gap Up - What's Next?

NuScale Power Co. (NYSE:SMR - Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $17.93, but opened at $18.57. NuScale Power shares last traded at $18.28, with a volume of 1,545,194 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 price target for the company. Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research 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 assigned a buy rating to the company's stock. Based on data from MarketBeat, NuScale Power presently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Performance

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 stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of -18.64 and a beta of 1.33. The company's 50-day simple moving average is $22.77 and its 200-day simple moving average is $15.13.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 68,558 shares of the business's stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the transaction, the insider now owns 14,054 shares in the company, valued at approximately $182,983.08. The trade was a 82.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Geode Capital Management LLC boosted its stake in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company's stock worth $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp boosted its position in shares of NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company's stock worth $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock valued at $14,307,000 after buying an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. increased its position in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after buying an additional 460,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock worth $4,074,000 after buying an additional 128,012 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.