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

NuScale Power Co. (NYSE:SMR) shares dropped 2.5% on Monday . The stock traded as low as $28.66 and last traded at $28.91. Approximately 4,439,820 shares were traded during trading, a decline of 30% from the average daily volume of 6,373,202 shares. The stock had previously closed at $29.65.

Analyst Ratings Changes

A number of research firms have recently issued reports on SMR. Craig Hallum lifted their price objective 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. 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 target on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Down 6.1 %

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 firm’s 50 day moving average price is $19.23 and its two-hundred day moving average price is $12.96. The company has a market capitalization of $7.11 billion, a price-to-earnings ratio of -30.55 and a beta of 1.12.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 409,051 shares of company stock worth $5,525,671 over the last 90 days. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power in the third quarter valued at approximately $44,000. US Bancorp DE bought a new stake in shares of NuScale Power during the 3rd quarter valued at $54,000. CWM LLC grew its holdings 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 purchasing an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new position in NuScale Power in the second quarter valued at about $64,000. Finally, TFC Financial Management Inc. bought a new stake in NuScale Power during the second quarter worth about $75,000. 15.28% of the stock is currently owned by 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.