NuScale Power (NYSE:SMR) Stock Price Down 2.5% – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s stock price fell 2.5% during mid-day trading on Friday . The stock traded as low as $18.77 and last traded at $19.19. 2,857,335 shares were traded during mid-day trading, a decline of 69% from the average session volume of 9,280,657 shares. The stock had previously closed at $19.68.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SMR. Craig Hallum boosted their price target on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA initiated coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NuScale Power presently has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The company has a market cap of $4.92 billion, a P/E ratio of -20.29 and a beta of 1.47. The stock has a 50 day moving average price of $22.83 and a two-hundred day moving average price of $15.55. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the transaction, the chief executive officer now owns 34,675 shares of the company’s stock, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 798,620 shares of company stock worth $14,624,962 in the last 90 days. Company insiders own 1.96% of the company’s stock.

Hedge Funds Weigh In On NuScale Power

Hedge funds and other institutional investors have recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in NuScale Power in the third quarter valued at about $44,000. US Bancorp DE bought a new stake in shares of NuScale Power during the 3rd quarter valued at approximately $54,000. CWM LLC grew its holdings in shares of 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 purchasing an additional 5,191 shares during the last quarter. Quest Partners LLC acquired a new position in NuScale Power during the 2nd quarter worth approximately $115,000. Finally, Victory Capital Management Inc. acquired a new stake in NuScale Power in the third quarter valued at approximately $116,000. 78.37% of the stock is currently owned by institutional investors and hedge funds.

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.