NuScale Power (NYSE:SMR) Trading Down 0.4% – Time to Sell?

NuScale Power Co. (NYSE:SMR) shares traded down 0.4% during trading on Friday . The company traded as low as $21.21 and last traded at $21.57. 2,192,302 shares were traded during trading, a decline of 66% from the average session volume of 6,479,091 shares. The stock had previously closed at $21.66.

Analysts Set New Price Targets

Several brokerages have weighed in on SMR. Craig Hallum increased their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. One equities research 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. Based on data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Down 2.4 %

The firm’s fifty day moving average is $21.59 and its two-hundred day moving average is $14.07. The firm has a market cap of $5.40 billion, a price-to-earnings ratio of -22.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insiders Place Their Bets

In other news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert K. Temple sold 75,000 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at approximately $168,648. This trade represents a 84.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 422,237 shares of company stock worth $6,005,215. 1.96% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Canal Insurance CO grew its stake in shares of NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after buying an additional 460,487 shares in the last quarter. Verition Fund Management LLC increased its holdings in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after buying an additional 86,454 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of NuScale Power during the 3rd quarter valued at $277,000. Finally, Van ECK Associates Corp boosted its stake in shares of NuScale Power by 90.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after acquiring an additional 585,292 shares in the last quarter. 78.37% of the stock is currently owned by 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.