NuScale Power (NYSE:SMR) Shares Down 9.5% – Time to Sell?

Shares of NuScale Power Co. (NYSE:SMR) traded down 9.5% during trading on Monday . The stock traded as low as $17.56 and last traded at $17.65. 4,283,538 shares traded hands during mid-day trading, a decline of 35% from the average session volume of 6,567,327 shares. The stock had previously closed at $19.51.

Wall Street Analysts Forecast Growth

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

NuScale Power Stock Down 4.8 %

The stock’s 50-day moving average price is $22.77 and its 200-day moving average price is $14.97. 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 stock has a market cap of $4.74 billion, a price-to-earnings ratio of -19.55 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction on Friday, November 29th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the company’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 transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the 3rd quarter valued at $44,000. US Bancorp DE bought a new stake in NuScale Power in the 3rd quarter worth about $54,000. CWM LLC lifted its position 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 bought a new position in shares of NuScale Power in the second quarter valued at approximately $64,000. Finally, Quest Partners LLC bought a new stake in NuScale Power during the second quarter worth $115,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.