NuScale Power (NYSE:SMR) Trading Down 4.5% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s stock price dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $20.51 and last traded at $20.75. Approximately 3,760,550 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 6,494,657 shares. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

Several brokerages have commented on SMR. Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA initiated 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The company has a market cap of $5.40 billion, a P/E ratio of -21.42 and a beta of 1.33. The company’s fifty day moving average is $21.77 and its 200 day moving average is $14.20. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In other news, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now owns 14,054 shares in the company, valued at $153,188.60. This represents a 91.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,237 shares of company stock worth $6,005,215 over the last 90 days. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares during the last quarter. State Street Corp grew its holdings in NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after acquiring an additional 154,368 shares during the period. Van ECK Associates Corp grew its position in NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after buying an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of NuScale Power by 212.4% during the 3rd 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after purchasing an additional 128,012 shares in the last quarter. Hedge funds and other institutional investors own 78.37% 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.