NuScale Power (NYSE:SMR) Stock Price Down 1.6% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price traded down 1.6% during trading on Monday . The company traded as low as $28.40 and last traded at $29.74. 5,609,090 shares changed hands during mid-day trading, a decline of 11% from the average session volume of 6,307,366 shares. The stock had previously closed at $30.21.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price objective on the stock. Craig Hallum raised their price objective on 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 issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Trading Up 6.5 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The business’s 50-day moving average is $18.11 and its two-hundred day moving average is $12.50. The firm has a market cap of $7.17 billion, a P/E ratio of -29.46 and a beta of 1.12.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction dated 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 completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 409,051 shares of company stock valued at $5,525,671 in the last ninety days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of institutional investors have recently made changes to their positions in SMR. Swedbank AB acquired a new stake in shares of NuScale Power in the 1st quarter worth approximately $18,585,000. Van ECK Associates Corp acquired a new stake in shares of NuScale Power in the 2nd quarter worth approximately $7,600,000. Charles Schwab Investment Management Inc. lifted its stake in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after acquiring an additional 460,487 shares during the period. Geode Capital Management LLC lifted its stake in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after purchasing an additional 317,285 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in NuScale Power during the third quarter valued at approximately $2,895,000. 15.28% of the stock is owned by institutional investors and hedge funds.

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.