NuScale Power (NYSE:SMR) Trading Down 3.9% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) traded down 3.9% during trading on Monday . The company traded as low as $18.85 and last traded at $19.00. 2,643,621 shares were traded during trading, a decline of 60% from the average session volume of 6,554,330 shares. The stock had previously closed at $19.77.

Analysts Set New Price Targets

SMR has been the topic of a number of research reports. Craig Hallum upped their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. CLSA initiated 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 on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The company’s 50-day simple moving average is $22.63 and its 200 day simple moving average is $14.72. The company has a market capitalization of $5.37 billion, a P/E ratio of -22.12 and a beta of 1.33. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now owns 3,801 shares in the company, valued at $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the business’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now owns 14,054 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 202,610 shares of company stock worth $3,528,780. Corporate insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently added to or reduced their stakes in SMR. Bank of New York Mellon Corp lifted its holdings in shares of NuScale Power by 97.3% during the second quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company’s stock worth $3,256,000 after buying an additional 137,382 shares during the last quarter. Principal Financial Group Inc. bought a new stake in NuScale Power in the 2nd quarter valued at $123,000. International Assets Investment Management LLC acquired a new stake in NuScale Power in the 2nd quarter worth $64,000. Commonwealth Equity Services LLC raised its position in shares of NuScale Power by 85.9% during the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company’s stock valued at $917,000 after buying an additional 36,236 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in shares of NuScale Power in the second quarter valued at about $7,600,000. 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.