NuScale Power (NYSE:SMR) Shares Down 2.5% – Time to Sell?

NuScale Power Co. (NYSE:SMR) fell 2.5% during mid-day trading on Friday . The stock traded as low as $18.77 and last traded at $19.19. 2,857,335 shares were traded during mid-day trading, a decline of 69% from the average session volume of 9,280,657 shares. The stock had previously closed at $19.68.

Analyst Ratings Changes

Separately, Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One investment 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 data from MarketBeat.com, NuScale Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Up 1.8 %

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 $5.12 billion, a P/E ratio of -21.09 and a beta of 1.47. The firm’s 50-day simple moving average is $22.85 and its 200 day simple moving average is $15.66.

Insider Buying and Selling

In other NuScale Power news, 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 completion of the transaction, the chief executive officer now owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 798,620 shares of company stock valued at $14,624,962. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of NuScale Power during the 3rd quarter valued at about $44,000. US Bancorp DE purchased a new position in NuScale Power in the 3rd quarter worth approximately $54,000. CWM LLC grew its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of NuScale Power during the 2nd quarter valued at $115,000. Finally, Victory Capital Management Inc. bought a new stake in shares of NuScale Power during the 3rd quarter worth $116,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.