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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $18.96, but opened at $18.45. NuScale Power shares last traded at $17.64, with a volume of 4,453,752 shares changing hands.

Wall Street Analyst Weigh In

SMR has been the subject of a number of analyst reports. Craig Hallum increased their price target on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 target price for the company. Finally, B. Riley boosted their price target on NuScale Power from $8.00 to $14.00 and gave the stock a "buy" rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, NuScale Power presently has a consensus rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Price Performance

The company has a current ratio of 2.66, a quick ratio of 2.66 and a debt-to-equity ratio of 0.27. The firm has a 50 day moving average price of $10.75 and a 200-day moving average price of $9.36. The firm has a market capitalization of $4.33 billion, a P/E ratio of -20.59 and a beta of 1.25.

NuScale Power (NYSE:SMR - Get Free Report) last released its earnings results on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. NuScale Power had a negative return on equity of 61.82% and a negative net margin of 592.28%. During the same quarter last year, the business posted ($0.13) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now directly owns 30,323 shares in the company, valued at $266,539.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the business's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $134,496.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the sale, the chief operating officer now directly owns 30,323 shares of the company's stock, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 490,595 shares of company stock worth $6,287,356. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

A number of institutional investors have recently made changes to their positions in the business. Swedbank AB acquired a new stake in NuScale Power in the 1st quarter worth approximately $18,585,000. Van ECK Associates Corp purchased a new stake in shares of NuScale Power during the second quarter valued at $7,600,000. Bank of New York Mellon Corp increased its position in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock valued at $3,256,000 after acquiring an additional 137,382 shares during the period. SG Americas Securities LLC raised 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 worth $2,167,000 after acquiring an additional 131,570 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in NuScale Power during the 4th quarter worth about $417,000. 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.