NuScale Power (NYSE:SMR) Shares Down 9.1% – Should You Sell?

Shares of NuScale Power Co. (NYSE:SMR) traded down 9.1% during trading on Thursday . The stock traded as low as $18.65 and last traded at $19.74. 8,987,428 shares were traded during trading, a decline of 15% from the average session volume of 10,624,304 shares. The stock had previously closed at $21.72.

Wall Street Analyst Weigh In

Several research analysts recently commented on SMR shares. CLSA began coverage on shares of NuScale Power in a report on Friday, September 13th. They set an “outperform” rating and a $11.00 target price for the company. 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. 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.39.

NuScale Power Trading Up 1.8 %

The firm’s 50-day moving average price is $22.85 and its 200 day moving average price is $15.62. The company has a market capitalization of $5.12 billion, a P/E ratio of -21.09 and a beta of 1.47. 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 Transactions at NuScale Power

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in NuScale Power during the 3rd quarter valued at $44,000. US Bancorp DE purchased a new stake in shares of NuScale Power during the third quarter valued at $54,000. CWM LLC increased its holdings in NuScale Power by 4,593.8% in the 3rd quarter. CWM LLC now owns 5,304 shares of the company’s stock worth $61,000 after buying an additional 5,191 shares in the last quarter. Quest Partners LLC purchased a new position in NuScale Power in the 2nd quarter worth about $115,000. Finally, Victory Capital Management Inc. bought a new position in NuScale Power during the 3rd quarter valued at about $116,000. 78.37% of the stock is owned by hedge funds and other institutional investors.

NuScale Power Company Profile

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.