NuScale Power (NYSE:SMR) Shares Down 0.6% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s stock price traded down 0.6% during trading on Thursday . The company traded as low as $24.55 and last traded at $24.82. 6,222,879 shares traded hands during trading, an increase of 1% from the average session volume of 6,162,649 shares. The stock had previously closed at $24.98.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SMR shares. CLSA assumed coverage on NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. 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 research note on Thursday, October 17th. One 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. According to MarketBeat.com, NuScale Power currently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.66. The stock’s 50 day simple moving average is $15.50 and its 200-day simple moving average is $11.36. The stock has a market capitalization of $5.74 billion, a price-to-earnings ratio of -24.25 and a beta of 1.12.

Insider Buying and Selling at NuScale Power

In related news, 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 transaction of $153,551.16. Following the completion of the sale, the chief financial officer now directly owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This represents a 25.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert K. Temple sold 115,866 shares of NuScale Power 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 transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 89.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 428,293 shares of company stock worth $5,679,222 over the last three months. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Several hedge funds and other institutional investors have recently made changes to their positions in SMR. Swedbank AB acquired a new stake in NuScale Power in the 1st quarter valued at approximately $18,585,000. Geode Capital Management LLC increased its position in NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after acquiring an additional 317,285 shares during the period. State Street Corp raised its stake in NuScale Power by 10.2% during the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after purchasing an additional 154,368 shares during the last quarter. Van ECK Associates Corp boosted its holdings in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after purchasing an additional 585,292 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares during the period. 15.28% of the stock is owned by institutional investors and hedge funds.

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.