NuScale Power (NYSE:SMR) Shares Gap Down to $4.85

NuScale Power Co. (NYSE:SMR) shares gapped down prior to trading on Tuesday . The stock had previously closed at $4.85, but opened at $4.70. NuScale Power shares last traded at $4.79, with a volume of 768,126 shares.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SMR. Canaccord Genuity Group began coverage on NuScale Power in a report on Monday, January 29th. They issued a “buy” rating and a $4.25 price target on the stock. UBS Group boosted their price objective on NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. Canaccord Genuity Group lifted their target price on NuScale Power from $4.25 to $8.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Wells Fargo & Company reiterated an “underweight” rating and set a $4.50 price target (down previously from $7.50) on shares of NuScale Power in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. According to MarketBeat, NuScale Power presently has an average rating of “Hold” and an average price target of $7.75.

NuScale Power Price Performance

The business has a 50 day simple moving average of $4.54 and a 200 day simple moving average of $3.73. The stock has a market cap of $1.17 billion, a PE ratio of -5.95 and a beta of 1.06.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.03). NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. The company had revenue of $4.56 million during the quarter, compared to analyst estimates of $1.75 million. As a group, sell-side analysts forecast that NuScale Power Co. will post -0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other NuScale Power news, CEO John Lawrence Hopkins sold 59,768 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.06% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Large investors have recently modified their holdings of the stock. Federated Hermes Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at approximately $43,000. Ameritas Investment Partners Inc. grew its position in NuScale Power by 80.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock worth $30,000 after acquiring an additional 1,968 shares during the last quarter. Itau Unibanco Holding S.A. bought a new stake in NuScale Power during the 2nd quarter worth approximately $37,000. Point72 Hong Kong Ltd bought a new stake in NuScale Power during the 2nd quarter worth approximately $57,000. Finally, Legal & General Group Plc grew its position in NuScale Power by 157.3% during the 4th quarter. Legal & General Group Plc now owns 7,569 shares of the company’s stock worth $78,000 after acquiring an additional 4,627 shares during the last quarter. 15.28% of the stock is currently owned by institutional investors.

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.