NuScale Power (NYSE:SMR) Stock Price Down 5.6% – Here’s Why

NuScale Power Co. (NYSE:SMR) dropped 5.6% on Thursday . The stock traded as low as $22.77 and last traded at $23.46. Approximately 5,014,700 shares changed hands during trading, a decline of 22% from the average daily volume of 6,424,358 shares. The stock had previously closed at $24.85.

Analyst Upgrades and Downgrades

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

NuScale Power Trading Up 5.4 %

The company has a 50-day moving average price of $20.59 and a 200-day moving average price of $13.52. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of -27.03 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Transactions at NuScale Power

In related news, 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 value of $527,394.00. Following the completion of the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the company’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 of the company’s stock, valued at approximately $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 427,237 shares of company stock valued at $6,053,065. 1.96% of the stock is currently owned by corporate insiders.

Institutional Trading of NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power during the 3rd quarter worth approximately $44,000. US Bancorp DE purchased a new position in shares of NuScale Power during the 3rd quarter worth approximately $54,000. CWM LLC raised its stake in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of NuScale Power during the 2nd quarter worth approximately $64,000. Finally, TFC Financial Management Inc. purchased a new position in shares of NuScale Power during the 2nd quarter worth approximately $75,000. 15.28% of the stock is owned by hedge funds and other 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.