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

NuScale Power Co. (NYSE:SMR) fell 2.5% during trading on Monday . The company traded as low as $28.66 and last traded at $28.91. 4,439,820 shares changed hands during mid-day trading, a decline of 30% from the average session volume of 6,373,202 shares. The stock had previously closed at $29.65.

Analysts Set New Price Targets

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

NuScale Power Trading Up 0.8 %

The firm has a fifty day moving average of $19.56 and a 200-day moving average of $13.11. 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 stock has a market capitalization of $6.40 billion, a price-to-earnings ratio of -26.19 and a beta of 1.33.

Insider Activity

In other news, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of NuScale Power stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $134,496.78. This trade represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 427,237 shares of company stock worth $6,053,065 over the last ninety days. Corporate insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

A number of hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the third quarter valued at approximately $44,000. US Bancorp DE bought a new position in NuScale Power during the 3rd quarter worth $54,000. CWM LLC increased its position in NuScale Power by 4,593.8% in the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the period. International Assets Investment Management LLC bought a new stake in NuScale Power in the second quarter valued at $64,000. Finally, TFC Financial Management Inc. acquired a new position in shares of NuScale Power during the second quarter valued at $75,000. Institutional investors and hedge funds own 15.28% 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.