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

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $41.60, but opened at $39.93. NuScale Power shares last traded at $41.98, with a volume of 3,356,676 shares trading hands.

Analyst Ratings Changes

Several analysts have issued reports on SMR shares. BTIG Research restated a "buy" rating on shares of NuScale Power in a research note on Tuesday, May 13th. Canaccord Genuity Group set a $35.00 price objective on NuScale Power and gave the company a "buy" rating in a research note on Thursday, May 29th. The Goldman Sachs Group set a $24.00 price objective on NuScale Power and gave the company a "neutral" rating in a research note on Tuesday, May 20th. CLSA set a $41.00 price objective on NuScale Power and gave the company an "outperform" rating in a research note on Tuesday, May 27th. Finally, UBS Group upped their target price on NuScale Power from $17.00 to $34.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of "Moderate Buy" and an average target price of $27.00.

NuScale Power Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The stock has a fifty day simple moving average of $22.60 and a two-hundred day simple moving average of $21.29. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of -42.41 and a beta of 2.00.

NuScale Power (NYSE:SMR - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.06. The company had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. Analysts forecast that NuScale Power Co. will post -0.73 earnings per share for the current fiscal year.

Insider Activity

In other NuScale Power news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction dated 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. The trade was a 6.01% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider now directly owns 86,965 shares in the company, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,278 shares of company stock worth $2,286,280 in the last three months. Company insiders own 1.27% of the company's stock.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently bought and sold shares of SMR. Samsung C&T Corp bought a new stake in NuScale Power during the 4th quarter valued at $46,745,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in NuScale Power by 1,220.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,845,116 shares of the company's stock valued at $26,127,000 after acquiring an additional 1,705,411 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in NuScale Power during the 4th quarter valued at $22,823,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of NuScale Power by 20.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock worth $96,880,000 after purchasing an additional 1,153,158 shares during the period. Finally, CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power in the first quarter worth $14,271,000. Institutional investors own 78.37% of the company's stock.

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.