NuScale Power (NYSE:SMR) Trading Down 0.9% – Should You Sell?

Shares of NuScale Power Co. (NYSE:SMR) were down 0.9% during mid-day trading on Thursday . The company traded as low as $24.63 and last traded at $25.51. Approximately 2,887,189 shares changed hands during trading, a decline of 54% from the average daily volume of 6,246,673 shares. The stock had previously closed at $25.74.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. CLSA initiated 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 lifted their target price on NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Price Performance

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $17.40 and a 200 day moving average of $12.11.

Insider Buying and Selling

In related news, CFO Robert Ramsey Hamady sold 19,242 shares of NuScale Power stock in a transaction dated 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 owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. The trade was a 25.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Robert K. Temple sold 115,866 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently made changes to their positions in SMR. Price T Rowe Associates Inc. MD grew its holdings in shares of NuScale Power by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after purchasing an additional 4,014 shares in the last quarter. Virtu Financial LLC acquired a new stake in NuScale Power during the first quarter worth approximately $98,000. Swedbank AB bought a new stake in NuScale Power in the first quarter valued at $18,585,000. Simplicity Wealth LLC acquired a new position in shares of NuScale Power during the second quarter worth approximately $159,000. Finally, Fortitude Family Office LLC bought a new position in shares of NuScale Power in the second quarter valued at approximately $98,000. Institutional investors 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.