NuScale Power (NYSE:SMR) Stock Price Down 4% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) traded down 4% on Wednesday . The company traded as low as $20.01 and last traded at $20.74. 7,058,464 shares were traded during mid-day trading, an increase of 21% from the average session volume of 5,817,939 shares. The stock had previously closed at $21.61.

Wall Street Analyst Weigh In

SMR has been the subject of several research analyst reports. Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. CLSA initiated coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Performance

The firm has a fifty day simple moving average of $12.40 and a 200-day simple moving average of $10.08. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.27.

NuScale Power (NYSE:SMR) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.18). NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. The company had revenue of $0.97 million for the quarter, compared to the consensus estimate of $1.43 million. During the same quarter last year, the business posted ($0.13) earnings per share.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, COO Carl M. Fisher sold 12,302 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total value of $108,134.58. Following the sale, the chief operating officer now owns 30,323 shares of the company’s stock, valued at $266,539.17. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Carl M. Fisher sold 12,302 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the transaction, the chief operating officer now owns 30,323 shares in the company, valued at $266,539.17. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 directly owns 57,681 shares in the company, valued at $460,294.38. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 490,595 shares of company stock valued at $6,287,356 in the last three months. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE bought a new position in NuScale Power in the 3rd quarter valued at $54,000. Avantax Advisory Services Inc. acquired a new position in shares of NuScale Power in the first quarter valued at about $58,000. CWM LLC boosted its position in NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC purchased a new position in NuScale Power during the second quarter worth approximately $64,000. Finally, TFC Financial Management Inc. purchased a new position in NuScale Power during the second quarter worth approximately $75,000. Institutional investors own 15.28% 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.