NuScale Power (NYSE:SMR) Trading Down 0.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price fell 0.7% on Thursday . The stock traded as low as $20.40 and last traded at $20.67. 2,957,870 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 8,244,003 shares. The stock had previously closed at $20.82.

Analyst Ratings Changes

Separately, Craig Hallum increased their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Up 0.9 %

The firm’s 50 day simple moving average is $22.85 and its two-hundred day simple moving average is $15.82. The stock has a market capitalization of $5.36 billion, a P/E ratio of -22.07 and a beta of 1.47. 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 Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were 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 of the company’s stock, valued at approximately $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the sale, the chief executive officer now owns 34,675 shares of the company’s stock, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power in the 3rd quarter worth approximately $44,000. US Bancorp DE bought a new stake in NuScale Power during the third quarter valued at $54,000. CWM LLC increased 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. Victory Capital Management Inc. bought a new position in NuScale Power in the 3rd quarter worth about $116,000. Finally, TRUE Private Wealth Advisors purchased a new stake in shares of NuScale Power in the 3rd quarter valued at about $117,000. 78.37% of the stock is currently owned by institutional investors.

About NuScale Power

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.