NuScale Power (NYSE:SMR) Shares Gap Up to $4.16

NuScale Power Co. (NYSE:SMR - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $4.16, but opened at $4.53. NuScale Power shares last traded at $5.00, with a volume of 5,248,940 shares changing hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on SMR shares. Wells Fargo & Company reiterated an "underweight" rating and set a $4.50 target price (down from $7.50) on shares of NuScale Power in a research report on Tuesday, March 19th. Canaccord Genuity Group initiated coverage on shares of NuScale Power in a research note on Monday, January 29th. They set a "buy" rating and a $4.25 target price on the stock. UBS Group lifted their target price on shares of NuScale Power from $2.00 to $10.00 and gave the company a "neutral" rating in a research note on Tuesday, March 19th. Finally, Canaccord Genuity Group lifted their target price on shares of NuScale Power from $4.25 to $8.00 and gave the company a "buy" rating in a research note on Monday, March 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $7.75.

NuScale Power Stock Performance

The firm has a market capitalization of $1.35 billion, a PE ratio of -6.39 and a beta of 0.90. The company has a fifty day moving average price of $3.69 and a 200-day moving average price of $3.73.

Insider Buying and Selling at NuScale Power

In related news, CEO John Lawrence Hopkins sold 59,768 shares of NuScale Power stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $4.20, for a total transaction of $251,025.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.06% of the company's stock.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently bought and sold shares of SMR. BlackRock Inc. increased its stake in NuScale Power by 63.8% during the 2nd quarter. BlackRock Inc. now owns 3,167,555 shares of the company's stock worth $21,539,000 after buying an additional 1,233,898 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in NuScale Power by 54.2% during the 3rd 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. Macquarie Group Ltd. purchased a new stake in NuScale Power during the 2nd quarter worth approximately $10,090,000. FMR LLC increased its stake in NuScale Power by 55.0% during the 1st quarter. FMR LLC now owns 2,405,757 shares of the company's stock worth $21,868,000 after buying an additional 853,569 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in NuScale Power by 68.3% during the 2nd quarter. Geode Capital Management LLC now owns 865,610 shares of the company's stock valued at $5,886,000 after acquiring an additional 351,171 shares in the last quarter. 15.28% 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.