NuScale Power (NYSE:SMR) Shares Down 1.5% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price dropped 1.5% during trading on Wednesday . The stock traded as low as $17.36 and last traded at $17.93. Approximately 7,122,629 shares were traded during mid-day trading, an increase of 8% from the average daily volume of 6,590,206 shares. The stock had previously closed at $18.21.

Analyst Ratings Changes

Several analysts have recently weighed in on SMR shares. Craig Hallum lifted their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. CLSA started coverage on 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. 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 Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a 50 day moving average price of $22.75 and a two-hundred day moving average price of $15.15. The company has a market capitalization of $4.52 billion, a P/E ratio of -18.64 and a beta of 1.33.

Insider Activity at NuScale Power

In related news, insider Robert K. Temple sold 115,866 shares of NuScale Power 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 completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. This trade represents a 89.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Trading of NuScale Power

Several large investors have recently made changes to their positions in SMR. Van ECK Associates Corp lifted its position in shares of NuScale Power by 90.0% during the third quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock worth $14,307,000 after purchasing an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after buying an additional 460,487 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after buying an additional 317,285 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of NuScale Power during the third quarter worth $2,895,000. Finally, State Street Corp lifted its stake in shares of NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after acquiring an additional 154,368 shares during the period. 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.