NuScale Power (NYSE:SMR) Stock Price Down 3.9% – Here’s Why

Shares of NuScale Power Co. (NYSE:SMR) dropped 3.9% on Monday . The stock traded as low as $18.85 and last traded at $19.00. Approximately 2,643,621 shares were traded during trading, a decline of 60% from the average daily volume of 6,554,330 shares. The stock had previously closed at $19.77.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. One 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The business’s 50 day simple moving average is $22.63 and its 200-day simple moving average is $14.72. The stock has a market capitalization of $5.37 billion, a price-to-earnings ratio of -22.12 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 115,866 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $255,782.80. This trade represents a 89.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power 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 transaction, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 202,610 shares of company stock valued at $3,528,780 in the last three months. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the stock. Canal Insurance CO increased its stake in NuScale Power by 35.0% in the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of NuScale Power by 212.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after acquiring an additional 460,487 shares during the period. Verition Fund Management LLC lifted its position in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after acquiring an additional 86,454 shares in the last quarter. Benjamin Edwards Inc. acquired a new position in NuScale Power in the 3rd quarter worth approximately $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NuScale Power by 57.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company’s stock worth $4,074,000 after purchasing an additional 128,012 shares in the last quarter. 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.