NuScale Power (NYSE:SMR) Shares Down 2.2% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s stock price was down 2.2% during mid-day trading on Monday . The stock traded as low as $19.37 and last traded at $20.67. Approximately 4,601,809 shares were traded during mid-day trading, a decline of 29% from the average daily volume of 6,488,085 shares. The stock had previously closed at $21.13.

Analysts Set New Price Targets

A number of analysts recently commented on SMR shares. 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 price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, NuScale Power has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Stock Performance

The company has a market cap of $5.55 billion, a PE ratio of -21.76 and a beta of 1.33. The stock’s 50 day simple moving average is $21.59 and its two-hundred day simple moving average is $14.11. 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 at NuScale Power

In other news, VP Jacqueline F. Engel sold 18,186 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert K. Temple sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the sale, the insider now owns 14,054 shares in the company, valued at approximately $168,648. The trade was a 84.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 422,237 shares of company stock valued at $6,005,215. Company insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several large investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in NuScale Power in the third quarter valued at about $44,000. US Bancorp DE purchased a new position in shares of NuScale Power during the 3rd quarter valued at approximately $54,000. CWM LLC grew its position in shares of NuScale Power by 4,593.8% during 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of NuScale Power in the second quarter worth $64,000. Finally, TFC Financial Management Inc. acquired a new stake in NuScale Power in the second quarter valued at $75,000. Institutional investors and hedge funds 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.