NuScale Power (NYSE:SMR) Trading Down 6.5% – Here’s What Happened

Shares of NuScale Power Co. (NYSE:SMR) fell 6.5% on Wednesday . The company traded as low as $20.40 and last traded at $20.69. 4,157,309 shares traded hands during trading, a decline of 36% from the average session volume of 6,455,085 shares. The stock had previously closed at $22.14.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SMR. Craig Hallum boosted their price objective 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. CLSA started coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Down 2.4 %

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 $5.40 billion, a PE ratio of -22.71 and a beta of 1.33. The stock has a 50-day simple moving average of $21.43 and a two-hundred day simple moving average of $13.95.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $10.90, for a total value of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % 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 dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 422,237 shares of company stock worth $6,005,215 in the last ninety days. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of NuScale Power in the third quarter worth $44,000. US Bancorp DE bought a new position in shares of NuScale Power during the 3rd quarter valued at approximately $54,000. CWM LLC increased its position in NuScale Power by 4,593.8% in 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 during the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter valued at $64,000. Finally, TFC Financial Management Inc. bought a new stake in shares of NuScale Power in the 2nd quarter worth about $75,000. Institutional investors own 78.37% 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.