NuScale Power (NYSE:SMR) Shares Down 2.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR)’s share price fell 2.7% on Friday . The stock traded as low as $27.77 and last traded at $28.30. 6,842,753 shares traded hands during mid-day trading, a decline of 32% from the average session volume of 10,056,829 shares. The stock had previously closed at $29.08.

Analyst Upgrades and Downgrades

Separately, Craig Hallum upped 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 assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Down 0.8 %

The company’s 50 day moving average price is $22.89 and its 200 day moving average price is $16.32. The company has a market cap of $7.36 billion, a price-to-earnings ratio of -30.43 and a beta of 1.47. The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24.

NuScale Power (NYSE:SMR) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. The business had revenue of $0.48 million for the quarter, compared to analyst estimates of $6.18 million. NuScale Power had a negative return on equity of 72.85% and a negative net margin of 1,089.32%. During the same quarter last year, the company earned ($0.26) EPS.

Insider Buying and Selling

In other news, 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 transaction, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. 1.96% of the stock is owned by insiders.

Institutional Investors Weigh In On NuScale Power

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of NuScale Power by 21.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after purchasing an additional 317,285 shares in the last quarter. State Street Corp increased its position in NuScale Power by 10.2% in the 3rd quarter. State Street Corp now owns 1,674,995 shares of the company’s stock valued at $19,396,000 after acquiring an additional 154,368 shares in the last quarter. Van ECK Associates Corp increased its position in NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company’s stock valued at $14,307,000 after acquiring an additional 585,292 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in NuScale Power by 212.4% in the 3rd 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NuScale Power by 57.2% in 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 valued at $4,074,000 after acquiring an additional 128,012 shares in the last quarter. Institutional investors and hedge funds own 78.37% of the company’s stock.

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.