NuScale Power (NYSE:SMR) Shares Down 4.4% – Here’s Why

NuScale Power Co. (NYSE:SMR) was down 4.4% on Monday . The company traded as low as $24.22 and last traded at $24.56. Approximately 4,199,866 shares were traded during trading, a decline of 35% from the average daily volume of 6,436,481 shares. The stock had previously closed at $25.70.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SMR shares. Craig Hallum lifted their target price on NuScale Power from $16.00 to $21.00 and gave the company 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 price objective on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The firm has a market cap of $6.13 billion, a PE ratio of -25.85 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 price of $20.59 and a two-hundred day moving average price of $13.61.

Insiders Place Their Bets

In related news, insider Robert K. Temple sold 144,627 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the sale, the insider now owns 14,054 shares in the company, valued at $153,188.60. This represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 427,237 shares of company stock valued at $6,053,065. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

A number of hedge funds and other institutional investors have recently made changes to their positions in SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in NuScale Power during the third quarter valued at $44,000. US Bancorp DE purchased a new stake in shares of NuScale Power in the third quarter worth about $54,000. CWM LLC grew its holdings 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 acquiring an additional 5,191 shares during the period. International Assets Investment Management LLC purchased a new position in NuScale Power during the second quarter valued at approximately $64,000. Finally, TFC Financial Management Inc. acquired a new position in NuScale Power in the second quarter valued at approximately $75,000. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.