NuScale Power (NYSE:SMR) Shares Down 5.7% – Here’s What Happened

NuScale Power Co. (NYSE:SMR) fell 5.7% during trading on Wednesday . The stock traded as low as $20.04 and last traded at $20.48. 6,564,440 shares changed hands during mid-day trading, an increase of 1% from the average session volume of 6,508,947 shares. The stock had previously closed at $21.71.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. CLSA began coverage on NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective for the company. Craig Hallum raised their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock 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 given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Stock Performance

The stock’s fifty day simple moving average is $21.94 and its 200-day simple moving average is $14.29. The company has a market capitalization of $5.39 billion, a PE ratio of -22.22 and a beta of 1.33. 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 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 shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at approximately $110,229. This represents a 82.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 75,000 shares of the stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at $168,648. This trade represents a 84.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 422,237 shares of company stock worth $6,005,215 over the last three months. 1.96% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On NuScale Power

Several large investors have recently modified their holdings of SMR. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the third quarter worth about $44,000. US Bancorp DE bought a new position in shares of NuScale Power in the 3rd quarter valued at about $54,000. CWM LLC increased its stake 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 worth $61,000 after purchasing an additional 5,191 shares during the last quarter. International Assets Investment Management LLC bought a new position in NuScale Power during the second quarter worth about $64,000. Finally, Quest Partners LLC acquired a new position in shares of NuScale Power during the 2nd quarter worth approximately $115,000. 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.