NuScale Power (NYSE:SMR) Shares Gap Down to $6.44

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $6.44, but opened at $6.29. NuScale Power shares last traded at $6.79, with a volume of 2,148,224 shares.

Analysts Set New Price Targets

SMR has been the subject of several recent research reports. Canaccord Genuity Group initiated coverage on NuScale Power in a research report on Monday, January 29th. They set a "buy" rating and a $4.25 price target for the company. Wells Fargo & Company reiterated an "underweight" rating and set a $4.50 price target (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. UBS Group lifted their price target on NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research report on Tuesday, March 19th. Finally, Canaccord Genuity Group lifted their price target on NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research report on Monday, March 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, NuScale Power has an average rating of "Hold" and a consensus target price of $7.75.

NuScale Power Price Performance

The firm has a fifty day simple moving average of $4.18 and a 200 day simple moving average of $3.74. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -7.70 and a beta of 1.06.

Insider Buying and Selling at NuScale Power

In other news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $4.20, for a total value of $251,025.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.06% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Institutional investors have recently made changes to their positions in the company. FMR LLC lifted its position in NuScale Power by 11.2% during the third quarter. FMR LLC now owns 2,983,460 shares of the company's stock worth $14,619,000 after buying an additional 301,548 shares in the last quarter. Raymond James & Associates purchased a new position in NuScale Power during the third quarter worth approximately $439,000. Mirae Asset Global Investments Co. Ltd. lifted its position in NuScale Power by 54.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,219,262 shares of the company's stock worth $15,774,000 after buying an additional 1,132,131 shares in the last quarter. Swiss National Bank raised its position in NuScale Power by 17.2% in the third quarter. Swiss National Bank now owns 62,600 shares of the company's stock valued at $307,000 after purchasing an additional 9,200 shares during the period. Finally, Van ECK Associates Corp lifted its stake in shares of NuScale Power by 66.9% in the 3rd quarter. Van ECK Associates Corp now owns 158,470 shares of the company's stock valued at $777,000 after purchasing an additional 63,519 shares during the last quarter. 15.28% of the stock is owned by institutional investors and hedge funds.

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.