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

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

Wall Street Analyst Weigh In

SMR has been the topic of several recent research reports. Craig Hallum upped 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 began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The stock has a market capitalization of $4.45 billion, a PE ratio of -18.34 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. The stock’s fifty day moving average is $22.75 and its 200-day moving average is $15.04.

Insider Transactions at NuScale Power

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction on 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 directly owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 202,610 shares of company stock valued at $3,528,780 in the last ninety days. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power in the third quarter valued at about $44,000. US Bancorp DE purchased a new stake in NuScale Power during the 3rd quarter valued at about $54,000. CWM LLC raised its holdings in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in NuScale Power in the 2nd quarter valued at about $64,000. Finally, Quest Partners LLC purchased a new position in NuScale Power in the 2nd quarter worth approximately $115,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.