NuScale Power (NYSE:SMR) Shares Gap Down to $4.85

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.85, but opened at $4.70. NuScale Power shares last traded at $4.79, with a volume of 768,126 shares trading hands.

Analyst Ratings Changes

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

NuScale Power Stock Up 2.7 %

The stock's 50-day moving average price is $4.58 and its 200-day moving average price is $3.73. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.23 and a beta of 1.06.

NuScale Power (NYSE:SMR - Get Free Report) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.25) earnings per share for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.03). The business had revenue of $4.56 million for the quarter, compared to the consensus estimate of $1.75 million. NuScale Power had a negative return on equity of 29.93% and a negative net margin of 255.86%. On average, equities research analysts anticipate that NuScale Power Co. will post -0.41 EPS for the current year.

Insider Buying and Selling

In related news, CEO John Lawrence Hopkins sold 59,768 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.06% of the stock is currently owned by insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently bought and sold shares of SMR. BlackRock Inc. increased its stake in NuScale Power by 63.8% in the second quarter. BlackRock Inc. now owns 3,167,555 shares of the company's stock valued at $21,539,000 after purchasing an additional 1,233,898 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 acquiring an additional 1,132,131 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of NuScale Power during the second quarter worth $10,090,000. FMR LLC increased its position in shares of NuScale Power by 55.0% during the first quarter. FMR LLC now owns 2,405,757 shares of the company's stock worth $21,868,000 after acquiring an additional 853,569 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of NuScale Power by 68.3% during the second quarter. Geode Capital Management LLC now owns 865,610 shares of the company's stock worth $5,886,000 after acquiring an additional 351,171 shares in the last quarter. Institutional investors own 15.28% of the company's stock.

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.