NuScale Power (NYSE:SMR) Trading Down 3.6% – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price was down 3.6% on Tuesday . The stock traded as low as $26.22 and last traded at $26.30. Approximately 3,783,181 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 6,224,026 shares. The stock had previously closed at $27.27.

Wall Street Analyst Weigh In

SMR has been the topic of a number of analyst reports. CLSA initiated coverage on NuScale Power in a research note on Friday, September 13th. They issued an “outperform” rating and a $11.00 price target on the stock. Craig Hallum raised 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 research 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 0.8 %

The firm has a market cap of $6.91 billion, a price-to-earnings ratio of -28.14 and a beta of 1.12. 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 business has a fifty day simple moving average of $15.89 and a 200 day simple moving average of $11.59.

Insider Buying and Selling

In other news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now directly owns 14,054 shares of the company’s stock, valued at approximately $255,782.80. The trade was a 89.18 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company’s stock, valued at approximately $460,294.38. This trade represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 428,293 shares of company stock valued at $5,679,222 over the last ninety days. Corporate insiders own 1.96% of the company’s stock.

Institutional Investors Weigh In On NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB bought a new position in NuScale Power in the 1st quarter valued at $18,585,000. Geode Capital Management LLC grew its position in shares of NuScale Power by 21.0% during the third quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock valued at $21,194,000 after purchasing an additional 317,285 shares in the last quarter. State Street Corp lifted its holdings 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 worth $19,396,000 after buying an additional 154,368 shares during the period. Van ECK Associates Corp raised 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 acquiring an additional 585,292 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in NuScale Power by 212.4% in 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 during the period. Institutional investors 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.