NuScale Power (NYSE:SMR) Stock Price Down 0.7% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) traded down 0.7% on Thursday . The company traded as low as $18.65 and last traded at $18.98. 4,127,688 shares changed hands during trading, a decline of 37% from the average session volume of 6,533,920 shares. The stock had previously closed at $19.11.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. CLSA assumed coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum upped their price target 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 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -20.81 and a beta of 1.33. 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 stock has a 50 day moving average of $22.36 and a 200 day moving average of $14.44.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 68,558 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $13.02, for a total value of $892,625.16. Following the sale, the insider now owns 14,054 shares in the company, valued at $182,983.08. This trade represents a 82.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s 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 transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 277,610 shares of company stock worth $4,428,780. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in NuScale Power during the 3rd quarter worth $44,000. US Bancorp DE acquired a new position in shares of NuScale Power in the third quarter worth approximately $54,000. CWM LLC boosted its holdings in 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 acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in NuScale Power during the 2nd quarter valued at approximately $64,000. Finally, Quest Partners LLC bought a new position in NuScale Power during the 2nd quarter worth approximately $115,000. 78.37% of the stock is currently owned by institutional investors.

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.