NuScale Power (NYSE:SMR) Shares Gap Down – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.13, but opened at $20.28. NuScale Power shares last traded at $20.33, with a volume of 3,087,124 shares trading hands.

Analysts Set New Price Targets

SMR has been the topic of a number of research analyst reports. CLSA began 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. Craig Hallum boosted their target price on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Performance

The firm’s fifty day simple moving average is $21.94 and its 200 day simple moving average is $14.29. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -22.85 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, 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 value of $527,394.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert K. Temple sold 144,627 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares in the company, valued at approximately $153,188.60. The trade was a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 422,237 shares of company stock valued at $6,005,215 in the last three months. 1.96% of the stock is currently owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power in the third quarter worth about $44,000. US Bancorp DE acquired a new position in shares of NuScale Power during the third quarter worth approximately $54,000. CWM LLC lifted its holdings in shares of NuScale Power by 4,593.8% during the third quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of NuScale Power in the second quarter worth $64,000. Finally, Quest Partners LLC bought a new position in NuScale Power during the second quarter worth $115,000. 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.