NuScale Power (NYSE:SMR) Shares Gap Down – Time to Sell?

NuScale Power Co. (NYSE:SMR) gapped down before the market opened on Wednesday . The stock had previously closed at $21.72, but opened at $20.53. NuScale Power shares last traded at $19.75, with a volume of 1,932,999 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SMR shares. Craig Hallum upped their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Up 1.8 %

The stock has a market cap of $5.12 billion, a price-to-earnings ratio of -21.09 and a beta of 1.47. The firm’s 50-day moving average is $22.83 and its 200 day moving average is $15.55. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Transactions at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 798,620 shares of company stock worth $14,624,962 in the last ninety days. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Catalina Capital Group LLC increased its stake in NuScale Power by 6.8% during the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock worth $146,000 after buying an additional 809 shares during the period. HighTower Advisors LLC grew its stake in shares of NuScale Power by 7.3% during the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after acquiring an additional 820 shares in the last quarter. Indie Asset Partners LLC increased its position in shares of NuScale Power by 7.1% during the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock worth $218,000 after acquiring an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NuScale Power in the third quarter worth about $44,000. Finally, US Bancorp DE purchased a new position in NuScale Power in the third quarter valued at about $54,000. 78.37% 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.