NuScale Power (NYSE:SMR) Stock Price Down 7.5% – Here’s What Happened

NuScale Power Co. (NYSE:SMRGet Free Report)’s share price fell 7.5% on Thursday . The company traded as low as $19.01 and last traded at $19.24. 4,121,975 shares were traded during trading, a decline of 29% from the average session volume of 5,835,251 shares. The stock had previously closed at $20.80.

Analyst Ratings Changes

Several research firms recently issued reports on SMR. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised their target price 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 analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

Read Our Latest Report on SMR

NuScale Power Trading Down 5.9 %

The stock has a fifty day simple moving average of $12.17 and a 200 day simple moving average of $10.01. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.66 and a current ratio of 2.66. The firm has a market cap of $4.88 billion, a P/E ratio of -18.68 and a beta of 1.25.

NuScale Power (NYSE:SMRGet Free Report) last announced its earnings results on Thursday, August 8th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.18). The business had revenue of $0.97 million for the quarter, compared to analysts’ expectations of $1.43 million. NuScale Power had a negative net margin of 592.28% and a negative return on equity of 61.82%. During the same period in the prior year, the company posted ($0.13) earnings per share.

Insider Buying and Selling

In related news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction on 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 transaction, the insider now owns 14,054 shares in the company, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Carl M. Fisher sold 12,302 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $8.79, for a total transaction of $108,134.58. Following the completion of the transaction, the chief operating officer now directly owns 30,323 shares of the company’s stock, valued at approximately $266,539.17. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 490,595 shares of company stock valued at $6,287,356. 1.96% of the stock is owned by corporate insiders.

Institutional Trading of NuScale Power

Several institutional investors have recently added to or reduced their stakes in the company. US Bancorp DE purchased a new position in NuScale Power in the 3rd quarter worth about $54,000. Avantax Advisory Services Inc. purchased a new stake in shares of NuScale Power during the 1st quarter valued at $58,000. CWM LLC increased its position in NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock valued at $61,000 after buying an additional 5,191 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in NuScale Power in the second quarter worth about $64,000. Finally, TFC Financial Management Inc. acquired a new position in NuScale Power during the 2nd quarter valued at approximately $75,000. Institutional investors own 15.28% of the company’s stock.

NuScale Power Company Profile

(Get Free Report)

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.

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