NuScale Power (NYSE:SMR) Shares Gap Up - Time to Buy?

NuScale Power Co. (NYSE:SMR - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $25.32, but opened at $28.50. NuScale Power shares last traded at $29.68, with a volume of 14,888,750 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. CLSA increased their price target on NuScale Power from $31.00 to $41.00 and gave the stock an "outperform" rating in a research report on Tuesday. UBS Group decreased their target price on NuScale Power from $25.00 to $17.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. BTIG Research restated a "buy" rating on shares of NuScale Power in a report on Tuesday, May 13th. Finally, The Goldman Sachs Group set a $24.00 price objective on shares of NuScale Power and gave the stock a "neutral" rating in a report on Tuesday, May 20th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.83.

NuScale Power Price Performance

The stock has a 50-day simple moving average of $18.10 and a 200 day simple moving average of $20.55. The stock has a market capitalization of $10.08 billion, a P/E ratio of -37.32 and a beta of 1.62. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

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

Insider Buying and Selling at NuScale Power

In related news, insider Clayton Scott sold 10,019 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $16.78, for a total transaction of $168,118.82. Following the transaction, the insider now owns 86,965 shares of the company's stock, valued at $1,459,272.70. This trade represents a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $17.00, for a total transaction of $589,475.00. Following the transaction, the chief executive officer now directly owns 49,019 shares in the company, valued at $833,323. The trade was a 41.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 184,392 shares of company stock valued at $3,138,221. 1.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Janney Montgomery Scott LLC bought a new position in NuScale Power during the fourth quarter worth about $202,000. Kingswood Wealth Advisors LLC bought a new position in shares of NuScale Power during the 4th quarter valued at about $265,000. Union Bancaire Privee UBP SA bought a new position in shares of NuScale Power during the 4th quarter valued at about $67,000. KBC Group NV bought a new position in shares of NuScale Power during the 4th quarter valued at about $70,000. Finally, Caprock Group LLC bought a new position in shares of NuScale Power during the 4th quarter valued at about $1,314,000. 78.37% of the stock is 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.