NuScale Power (NYSE:SMR) Trading Down 7.3% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price fell 7.3% on Friday . The company traded as low as $22.41 and last traded at $22.87. 3,283,010 shares were traded during mid-day trading, a decline of 47% from the average session volume of 6,178,468 shares. The stock had previously closed at $24.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in 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 price target on the stock. Craig Hallum boosted their target price on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, NuScale Power currently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The company’s 50-day simple moving average is $15.50 and its 200-day simple moving average is $11.40. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of -24.22 and a beta of 1.12. The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling at NuScale Power

In related news, insider Robert K. Temple sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the completion of the sale, the insider now owns 14,054 shares in the company, valued at $134,496.78. This represents a 26.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the transaction, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 25.01 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 428,293 shares of company stock worth $5,679,222. 1.96% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On NuScale Power

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

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.