NuScale Power (NYSE:SMR) Trading Down 11.2% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) dropped 11.2% on Monday . The stock traded as low as $21.30 and last traded at $21.75. Approximately 7,110,357 shares were traded during mid-day trading, an increase of 18% from the average daily volume of 6,032,265 shares. The stock had previously closed at $24.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price target for the company. Craig Hallum raised their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. 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 stock. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

The stock’s 50 day moving average price is $14.49 and its two-hundred day moving average price is $11.05. The company has a current ratio of 2.24, a quick ratio of 2.66 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of -26.42 and a beta of 1.12.

Insider Activity

In other NuScale Power news, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $153,188.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares in the company, valued at $460,294.38. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 428,293 shares of company stock worth $5,679,222. Company insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE acquired a new position in shares of NuScale Power in the third quarter valued at approximately $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 purchased a new position in shares of NuScale Power during the 2nd quarter worth $64,000. TFC Financial Management Inc. purchased a new stake in shares of NuScale Power in the second quarter valued at $75,000. Finally, Fortitude Family Office LLC acquired a new position in NuScale Power in the second quarter valued at $98,000. 15.28% 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.