NuScale Power (NYSE:SMR) Stock Price Down 2.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) shares fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $17.66 and last traded at $17.76. 1,746,426 shares changed hands during trading, a decline of 73% from the average session volume of 6,567,888 shares. The stock had previously closed at $18.21.

Analyst Ratings Changes

Several brokerages have weighed in on SMR. Craig Hallum boosted their price objective on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The firm’s 50 day moving average is $22.77 and its 200 day moving average is $15.13. The firm has a market cap of $4.58 billion, a P/E ratio of -18.87 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Activity at NuScale Power

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the business’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 transaction, the vice president now owns 3,801 shares of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 68,558 shares of NuScale Power stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $13.02, for a total transaction of $892,625.16. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $182,983.08. This trade represents a 82.99 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Canal Insurance CO increased its position in NuScale Power by 35.0% in the third quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after buying an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Verition Fund Management LLC raised its stake in NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after purchasing an additional 86,454 shares during the period. Stifel Financial Corp raised its position in shares of NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after buying an additional 100,995 shares during the last quarter. Finally, Benjamin Edwards Inc. bought a new position in shares of NuScale Power during the 3rd quarter valued at about $277,000. Hedge funds and other institutional investors 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.