NuScale Power (NYSE:SMR) Stock Price Down 8% – Should You Sell?

Shares of NuScale Power Co. (NYSE:SMR) traded down 8% during trading on Friday . The stock traded as low as $19.65 and last traded at $20.08. 4,821,443 shares changed hands during trading, a decline of 26% from the average session volume of 6,555,742 shares. The stock had previously closed at $21.82.

Wall Street Analyst Weigh In

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

NuScale Power Stock Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The firm has a market cap of $5.04 billion, a PE ratio of -20.78 and a beta of 1.33. The firm has a 50-day moving average price of $22.74 and a two-hundred day moving average price of $14.81.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 68,558 shares of the firm’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at approximately $182,983.08. This trade represents a 82.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The shares were 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 directly 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 disclosure for this sale can be found here. Insiders have sold a total of 202,610 shares of company stock valued at $3,528,780 in the last 90 days. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in SMR. Geode Capital Management LLC boosted its position in shares of 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 buying an additional 317,285 shares during the period. State Street Corp grew its position in NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after acquiring an additional 154,368 shares in the last quarter. Van ECK Associates Corp increased its stake 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 purchasing an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of 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 purchasing an additional 460,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NuScale Power by 57.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock valued at $4,074,000 after purchasing an additional 128,012 shares during the period. Hedge funds and other institutional investors own 78.37% of the company’s stock.

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.