NuScale Power (NYSE:SMR) Stock Price Down 13.4% – What’s Next?

NuScale Power Co. (NYSE:SMR) was down 13.4% during mid-day trading on Wednesday . The company traded as low as $18.81 and last traded at $18.81. Approximately 4,306,158 shares traded hands during trading, a decline of 55% from the average daily volume of 9,577,696 shares. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

SMR has been the topic of several research analyst reports. CLSA assumed coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum raised their target price 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. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 12.4 %

The firm has a market capitalization of $4.86 billion, a PE ratio of -20.02 and a beta of 1.47. 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’s 50 day moving average price is $22.84 and its two-hundred day moving average price is $15.49.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the company’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 798,620 shares of company stock valued at $14,624,962 in the last quarter. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power in the 3rd quarter worth approximately $44,000. US Bancorp DE acquired a new stake in shares of NuScale Power during the 3rd quarter worth approximately $54,000. CWM LLC raised its stake in shares of NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after purchasing an additional 5,191 shares in the last quarter. Quest Partners LLC bought a new stake in NuScale Power in the second quarter valued at about $115,000. Finally, Victory Capital Management Inc. acquired a new stake in NuScale Power during the third quarter valued at approximately $116,000. Institutional investors and hedge funds 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.