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

Key Points

• NuScale Power's stock saw a significant increase, opening at $39.75 after closing at $38.00, with a trading volume of over 4.3 million shares.
• Analysts have varied ratings for NuScale Power, with target prices ranging from $35.00 to $60.00, and a consensus average rating of "Hold" with a target of $36.83.
• Insider trading has been notable, with a director selling over 2.37 million shares in September, representing a 19.04% decrease in their ownership stake.

NuScale Power Corporation (NYSE:SMR - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $38.00, but opened at $39.75. NuScale Power shares last traded at $39.42, with a volume of 4,352,950 shares traded.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. BNP Paribas Exane initiated coverage on shares of NuScale Power in a report on Friday, July 25th. They issued a "neutral" rating and a $41.00 target price on the stock. Barclays initiated coverage on shares of NuScale Power in a report on Monday. They issued an "equal weight" rating and a $45.00 target price on the stock. Canaccord Genuity Group boosted their target price on shares of NuScale Power from $44.00 to $60.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. BNP Paribas upgraded shares of NuScale Power to a "hold" rating in a report on Friday, July 25th. Finally, Northland Securities initiated coverage on shares of NuScale Power in a report on Monday, July 7th. They issued a "market perform" rating and a $35.00 target price on the stock. Three analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $36.83.

NuScale Power Price Performance

The stock's fifty day moving average price is $39.88 and its 200-day moving average price is $30.94. The firm has a market cap of $10.88 billion, a price-to-earnings ratio of -32.06 and a beta of 2.03.

NuScale Power (NYSE:SMR - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.13) earnings per share (EPS) 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 firm had revenue of $8.05 million for the quarter, compared to analyst estimates of $10.49 million. As a group, equities research analysts predict that NuScale Power Corporation will post -0.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Corp Fluor sold 2,372,563 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $43.99, for a total transaction of $104,369,046.37. Following the transaction, the director directly owned 10,085,344 shares of the company's stock, valued at approximately $443,654,282.56. The trade was a 19.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert Ramsey Hamady sold 30,641 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The shares were sold at an average price of $35.59, for a total transaction of $1,090,513.19. Following the transaction, the chief financial officer directly owned 46,283 shares in the company, valued at $1,647,211.97. The trade was a 39.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,485,950 shares of company stock worth $388,621,483 over the last ninety days. 1.27% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Several large investors have recently added to or reduced their stakes in the business. Infini Capital Management Ltd bought a new stake in NuScale Power in the second quarter worth approximately $989,000. Orion Porfolio Solutions LLC grew its position in NuScale Power by 9.4% in the second quarter. Orion Porfolio Solutions LLC now owns 32,663 shares of the company's stock worth $1,292,000 after acquiring an additional 2,798 shares in the last quarter. Marex Group plc acquired a new stake in shares of NuScale Power in the second quarter worth $717,000. Delos Wealth Advisors LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth $51,000. Finally, FORA Capital LLC bought a new stake in shares of NuScale Power during the 2nd quarter worth $5,549,000. 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.

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