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

Key Points

• NuScale Power's stock increased to $37.79 at market opening after closing at $36.34, with the current trading price at $36.70.
• Analysts have mixed ratings for NuScale Power, with an average rating of "Hold" and a consensus price target of $36.09.
• The company reported a loss of ($0.13) earnings per share in its latest quarterly results, missing expectations, with a negative net margin of 221.07%.

NuScale Power Corporation (NYSE:SMR - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $36.34, but opened at $37.79. NuScale Power shares last traded at $36.70, with a volume of 2,668,410 shares changing hands.

Wall Street Analysts Forecast Growth

SMR has been the topic of several analyst reports. Northland Capmk raised NuScale Power to a "hold" rating in a research report on Monday, July 7th. Royal Bank Of Canada assumed coverage on NuScale Power in a research note on Monday. They issued a "sector perform" rating and a $35.00 target price for the company. BNP Paribas upgraded NuScale Power to a "hold" rating in a report on Friday, July 25th. UBS Group lifted their price objective on NuScale Power from $34.00 to $38.00 and gave the company a "neutral" rating in a report on Monday, August 11th. Finally, CLSA set a $41.00 price target on shares of NuScale Power and gave the stock an "outperform" rating in a research report on Tuesday, May 27th. Three investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $36.09.

NuScale Power Stock Performance

The stock has a market cap of $10.69 billion, a price-to-earnings ratio of -31.46 and a beta of 2.03. The firm's 50-day simple moving average is $40.10 and its two-hundred day simple moving average is $29.28.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of ($0.12) by ($0.01). NuScale Power had a negative net margin of 221.07% and a positive return on equity of 2.61%. The company had revenue of $8.05 million during the quarter, compared to the consensus estimate of $10.49 million. Equities research analysts expect that NuScale Power Corporation will post -0.73 earnings per share for the current fiscal year.

Insider Activity at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 30,641 shares of NuScale Power stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total value of $1,090,513.19. Following the completion of the sale, the chief financial officer owned 46,283 shares in the company, valued at $1,647,211.97. The trade was a 39.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Carl M. Fisher sold 18,206 shares of the business's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $44.39, for a total transaction of $808,164.34. Following the sale, the chief operating officer owned 90,864 shares of the company's stock, valued at $4,033,452.96. This trade represents a 16.69% decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently bought and sold shares of SMR. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in NuScale Power by 1,220.7% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in NuScale Power by 20.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,841,836 shares of the company's stock valued at $96,880,000 after buying an additional 1,153,158 shares during the period. Bank of America Corp DE increased its holdings in shares of NuScale Power by 80.9% during the second quarter. Bank of America Corp DE now owns 2,333,248 shares of the company's stock valued at $92,303,000 after acquiring an additional 1,043,676 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new position in shares of NuScale Power during the first quarter valued at $14,271,000. Finally, Man Group plc bought a new stake in NuScale Power in the 2nd quarter worth about $33,877,000. 78.37% of the stock is owned by hedge funds and other 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.

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