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

NuScale Power Co. (NYSE:SMR) gapped down before the market opened 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 traded.

Wall Street Analyst Weigh In

SMR has been the subject of several research reports. Canaccord Genuity Group increased their target price on NuScale Power from $4.25 to $8.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Canaccord Genuity Group assumed coverage on NuScale Power in a report on Monday, January 29th. They set a “buy” rating and a $4.25 price objective on the stock. Wells Fargo & Company reaffirmed an “underweight” rating and issued a $4.50 target price (down previously from $7.50) on shares of NuScale Power in a research note on Tuesday, March 19th. Finally, UBS Group lifted their price target on shares of NuScale Power from $2.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.75.

NuScale Power Stock Down 0.8 %

The business has a 50 day moving average price of $4.63 and a two-hundred day moving average price of $3.74.

NuScale Power (NYSE:SMR) last released its quarterly earnings data 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). NuScale Power had a negative net margin of 255.86% and a negative return on equity of 29.93%. The company had revenue of $4.56 million for the quarter, compared to analysts’ expectations of $1.75 million. On average, analysts expect that NuScale Power Co. will post -0.41 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO John Lawrence Hopkins sold 59,768 shares of the company’s 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.06% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Global Retirement Partners LLC purchased a new position in NuScale Power during the 4th quarter valued at $25,000. Ameritas Investment Partners Inc. grew its holdings in shares of NuScale Power by 80.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,426 shares of the company’s stock worth $30,000 after acquiring an additional 1,968 shares during the period. Essex Private Wealth Management LLC bought a new position in shares of NuScale Power in the 4th quarter worth approximately $33,000. Sloy Dahl & Holst LLC purchased a new position in shares of NuScale Power in the 4th quarter valued at approximately $33,000. Finally, Arizona State Retirement System bought a new stake in shares of NuScale Power during the fourth quarter valued at approximately $34,000. 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.