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

NuScale Power Co. (NYSE:SMR - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $42.49, but opened at $44.00. NuScale Power shares last traded at $43.09, with a volume of 2,195,855 shares.

Analyst Ratings Changes

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

NuScale Power Price Performance

The stock has a market capitalization of $11.51 billion, a P/E ratio of -42.72 and a beta of 2.00. The company's 50-day simple moving average is $23.67 and its 200-day simple moving average is $21.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported ($0.11) EPS for the quarter, beating 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 firm had revenue of $13.38 million during the quarter, compared to the consensus estimate of $1.46 million. As a group, sell-side analysts expect that NuScale Power Co. will post -0.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jose N. Reyes, Jr. sold 33,000 shares of NuScale Power stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $15.13, for a total value of $499,290.00. Following the sale, the chief technology officer now owns 516,207 shares in the company, valued at $7,810,211.91. This trade represents a 6.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lawrence Hopkins sold 26,345 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $23.66, for a total value of $623,322.70. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,278 shares of company stock worth $2,286,280. Company insiders own 1.27% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC purchased a new stake in shares of NuScale Power in the fourth quarter valued at $33,000. Quantbot Technologies LP acquired a new position in NuScale Power in the first quarter worth about $27,000. Venturi Wealth Management LLC increased its stake in NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company's stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Twin Tree Management LP bought a new stake in shares of NuScale Power in the 4th quarter worth approximately $42,000. Finally, Amalgamated Bank increased its stake in shares of NuScale Power by 51.8% in the fourth quarter. Amalgamated Bank now owns 2,889 shares of the company's stock valued at $52,000 after purchasing an additional 986 shares during the period. Institutional investors and hedge funds own 78.37% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.