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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $32.98, but opened at $31.42. NuScale Power shares last traded at $31.66, with a volume of 3,321,815 shares traded.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. BTIG Research restated a "buy" rating on shares of NuScale Power in a research report on Tuesday, May 13th. CLSA set a $41.00 target price on NuScale Power and gave the stock an "outperform" rating in a research note on Tuesday. The Goldman Sachs Group set a $24.00 target price on NuScale Power and gave the stock a "neutral" rating in a research note on Tuesday, May 20th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the stock a "buy" rating in a research report on Thursday. Finally, UBS Group upped their price objective on NuScale Power from $17.00 to $34.00 and gave the stock a "neutral" rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, NuScale Power presently has an average rating of "Moderate Buy" and an average target price of $27.00.

NuScale Power Stock Down 2.5%

The firm has a 50 day moving average of $19.00 and a two-hundred day moving average of $20.78. The stock has a market capitalization of $9.15 billion, a PE ratio of -33.85 and a beta of 1.62. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The business had revenue of $13.38 million for the quarter, compared to analysts' expectations of $1.46 million. Equities research analysts anticipate that NuScale Power Co. will post -0.73 earnings per share for the current year.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 24,618 shares of NuScale Power stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total value of $357,453.36. Following the completion of the transaction, the vice president now directly owns 1,149 shares in the company, valued at $16,683.48. The trade was a 95.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $15.13, for a total transaction of $499,290.00. Following the completion of the transaction, the chief technology officer now owns 516,207 shares in the company, valued at approximately $7,810,211.91. This trade represents a 6.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 184,392 shares of company stock valued at $3,138,221 over the last three months. 1.27% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds have recently bought and sold shares of the business. Spire Wealth Management acquired a new stake in shares of NuScale Power in the fourth quarter valued at about $262,000. Raymond James Financial Inc. bought a new position in NuScale Power during the fourth quarter worth about $2,755,000. Allspring Global Investments Holdings LLC raised its stake in shares of NuScale Power by 467.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,738 shares of the company's stock valued at $1,537,000 after acquiring an additional 70,638 shares during the last quarter. Clear Creek Financial Management LLC raised its stake in shares of NuScale Power by 93.3% in the fourth quarter. Clear Creek Financial Management LLC now owns 22,442 shares of the company's stock valued at $402,000 after acquiring an additional 10,830 shares during the last quarter. Finally, Financial Advocates Investment Management bought a new position in NuScale Power in the 4th quarter worth approximately $474,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.