NuScale Power (NYSE:SMR) Shares Gap Up – Here’s Why

NuScale Power Co. (NYSE:SMR) gapped up before the market opened on Tuesday . The stock had previously closed at $14.16, but opened at $14.75. NuScale Power shares last traded at $14.14, with a volume of 1,078,244 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group dropped their price target on NuScale Power from $25.00 to $17.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th.

NuScale Power Price Performance

The firm has a 50-day moving average of $20.21 and a 200-day moving average of $19.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a market capitalization of $4.10 billion, a P/E ratio of -15.31 and a beta of 1.58.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 24,618 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $14.52, for a total transaction of $357,453.36. Following the completion of the transaction, the vice president now owns 1,149 shares in the company, valued at $16,683.48. This trade represents a 95.54 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 720,682 shares of company stock worth $12,840,747. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SMR. CoreCap Advisors LLC purchased a new position in NuScale Power during the fourth quarter valued at approximately $33,000. Venturi Wealth Management LLC boosted its stake in shares of NuScale Power by 313.8% in the fourth quarter. Venturi Wealth Management LLC now owns 1,978 shares of the company’s stock worth $35,000 after acquiring an additional 1,500 shares during the period. Toth Financial Advisory Corp grew its position in shares of NuScale Power by 600.0% during the fourth quarter. Toth Financial Advisory Corp now owns 2,100 shares of the company’s stock worth $38,000 after purchasing an additional 1,800 shares in the last quarter. Twin Tree Management LP purchased a new position in NuScale Power in the 4th quarter worth approximately $42,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power in the 3rd quarter worth approximately $44,000. 78.37% of the stock is currently owned by institutional investors.

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.