NuScale Power (NYSE:SMR) Trading Down 5.7% – What’s Next?

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Craig Hallum raised their target price 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. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Stock Down 0.5 %

The company has a debt-to-equity ratio of 0.26, a quick ratio of 2.24 and a current ratio of 2.24. The firm has a market capitalization of $4.85 billion, a P/E ratio of -20.01 and a beta of 1.33. The stock has a fifty day moving average price of $22.23 and a two-hundred day moving average price of $14.36.

Insiders Place Their Bets

In other news, insider Robert K. Temple sold 75,000 shares of the business’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $12.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider now owns 14,054 shares of the company’s stock, valued at approximately $168,648. The trade was a 84.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power 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 sale, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 277,610 shares of company stock valued at $4,428,780 over the last quarter. Insiders own 1.96% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in shares of NuScale Power by 21.0% in the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after acquiring an additional 317,285 shares in the last quarter. State Street Corp lifted its position in shares of 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 boosted its stake 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 worth $14,307,000 after purchasing an additional 585,292 shares during the period. Charles Schwab Investment Management Inc. grew its position in NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock worth $7,843,000 after purchasing an additional 460,487 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in NuScale Power by 57.2% during 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 purchasing an additional 128,012 shares during the period. 78.37% of the stock is owned by institutional investors and hedge funds.

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.