NuScale Power (NYSE:SMR) Trading Down 7.3% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price traded down 7.3% on Friday . The company traded as low as $22.41 and last traded at $22.87. 3,283,010 shares were traded during trading, a decline of 47% from the average session volume of 6,178,468 shares. The stock had previously closed at $24.66.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. CLSA started coverage on NuScale Power in a research report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. Craig Hallum lifted their price objective 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 equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, NuScale Power currently 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 $5.74 billion, a P/E ratio of -24.07 and a beta of 1.12. The firm has a 50 day moving average of $15.17 and a 200-day moving average of $11.24. The company has a quick ratio of 2.66, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other NuScale Power news, 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 value of $1,576,434.30. Following the completion of the sale, the insider now directly owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total value of $153,551.16. Following the transaction, the chief financial officer now directly owns 57,681 shares in the company, valued at approximately $460,294.38. The trade was a 25.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 428,293 shares of company stock valued at $5,679,222 over the last three months. 1.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On NuScale Power

Institutional investors have recently added to or reduced their stakes in the business. Catalina Capital Group LLC increased its position in shares of NuScale Power by 6.8% in the 3rd quarter. Catalina Capital Group LLC now owns 12,638 shares of the company’s stock valued at $146,000 after acquiring an additional 809 shares during the period. HighTower Advisors LLC grew its stake in NuScale Power by 7.3% during the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company’s stock valued at $140,000 after purchasing an additional 820 shares during the last quarter. Indie Asset Partners LLC increased its holdings in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company’s stock valued at $218,000 after purchasing an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power in the third quarter worth about $44,000. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company’s stock worth $106,000 after purchasing an additional 4,014 shares during the period. Institutional investors and hedge funds own 15.28% 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.