NuScale Power (NYSE:SMR) Trading Down 0.9% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) were down 0.9% during trading on Thursday . The company traded as low as $24.63 and last traded at $25.51. Approximately 2,887,189 shares traded hands during trading, a decline of 54% from the average daily volume of 6,246,673 shares. The stock had previously closed at $25.74.

Analyst Upgrades and Downgrades

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

NuScale Power Trading Up 7.5 %

The business has a 50 day simple moving average of $16.60 and a two-hundred day simple moving average of $11.83. The stock has a market cap of $7.07 billion, a price-to-earnings ratio of -29.28 and a beta of 1.12. 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 NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 25.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 value of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 428,293 shares of company stock worth $5,679,222 over the last 90 days. Insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several institutional investors and hedge funds have recently made changes to their positions in SMR. Catalina Capital Group LLC increased its position in shares of NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after buying an additional 809 shares in the last quarter. HighTower Advisors LLC boosted its stake in NuScale Power by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock worth $140,000 after purchasing an additional 820 shares during the period. Indie Asset Partners LLC increased its position in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after acquiring an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in NuScale Power during the third quarter worth about $44,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after acquiring an additional 4,014 shares in the last quarter. Institutional investors and hedge funds own 15.28% 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.