NuScale Power (NYSE:SMR) Trading Down 2.5% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price dropped 2.5% on Tuesday . The stock traded as low as $17.66 and last traded at $17.76. Approximately 1,746,426 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 6,567,888 shares. The stock had previously closed at $18.21.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SMR shares. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price on the stock. Craig Hallum raised 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 investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Down 4.3 %

The stock has a market cap of $4.45 billion, a PE ratio of -18.34 and a beta of 1.33. The business has a fifty day moving average of $22.75 and a 200-day moving average of $15.04. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Transactions at NuScale Power

In other NuScale Power news, 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 sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. This represents a 89.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the completion of the sale, the vice president now owns 3,801 shares in the company, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 202,610 shares of company stock valued at $3,528,780. 1.96% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power in the third quarter worth $44,000. US Bancorp DE acquired a new position in shares of NuScale Power in the 3rd quarter valued at $54,000. CWM LLC raised its stake in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after acquiring an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in NuScale Power during the 2nd quarter worth about $64,000. Finally, Quest Partners LLC purchased a new stake in NuScale Power during the 2nd quarter valued at about $115,000. 78.37% of the stock is currently owned by hedge funds and other institutional investors.

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.