NuScale Power (NYSE:SMR) Shares Gap Up on Better-Than-Expected Earnings

NuScale Power Co. (NYSE:SMR)’s share price gapped up before the market opened on Tuesday following a better than expected earnings announcement. The stock had previously closed at $17.79, but opened at $18.65. NuScale Power shares last traded at $20.55, with a volume of 4,782,804 shares traded.

The company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.06. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. The company had revenue of $13.38 million during the quarter, compared to analyst estimates of $1.46 million.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. BTIG Research started coverage on NuScale Power in a research note on Friday, April 11th. They set a “buy” rating and a $20.00 price target for the company. UBS Group decreased their price objective on shares of NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $16.60.

Insider Activity

In related news, insider Clayton Scott sold 10,019 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $16.78, for a total value of $168,118.82. Following the transaction, the insider now directly owns 86,965 shares of the company’s stock, valued at approximately $1,459,272.70. This represents a 10.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 34,675 shares of NuScale Power stock in a transaction on Monday, May 5th. The stock was sold at an average price of $17.00, for a total value of $589,475.00. Following the completion of the sale, the chief executive officer now directly owns 49,019 shares of the company’s stock, valued at approximately $833,323. The trade was a 41.43% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,047 shares of company stock worth $2,514,898. Insiders own 1.27% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors have recently modified their holdings of the business. CoreCap Advisors LLC bought a new position in NuScale Power during the 4th quarter valued at about $33,000. Venturi Wealth Management LLC raised its holdings in shares of NuScale Power by 313.8% during the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock valued at $35,000 after purchasing an additional 1,500 shares during the last quarter. Toth Financial Advisory Corp lifted its position in NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock valued at $38,000 after purchasing an additional 1,800 shares during the period. Twin Tree Management LP purchased a new stake in NuScale Power in the fourth quarter worth approximately $42,000. Finally, NBC Securities Inc. grew its position in NuScale Power by 165,450.0% in the 1st quarter. NBC Securities Inc. now owns 3,311 shares of the company’s stock worth $46,000 after purchasing an additional 3,309 shares during the period. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Stock Performance

The business’s 50 day simple moving average is $16.13 and its two-hundred day simple moving average is $20.15. The firm has a market capitalization of $6.11 billion, a PE ratio of -22.79 and a beta of 1.62. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

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.