NuScale Power (NYSE:SMR) Trading Down 0.7% – What’s Next?

NuScale Power Co. (NYSE:SMR)’s share price fell 0.7% during mid-day trading on Thursday . The company traded as low as $18.65 and last traded at $18.98. 4,127,688 shares were traded during trading, a decline of 37% from the average session volume of 6,533,920 shares. The stock had previously closed at $19.11.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SMR shares. 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. CLSA started coverage on NuScale Power in a research note on Friday, September 13th. They set an “outperform” rating and a $11.00 price objective on the stock. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $10.39.

NuScale Power Stock Down 2.7 %

The firm has a market cap of $4.75 billion, a PE ratio of -19.58 and a beta of 1.33. The company has a 50-day simple moving average of $22.09 and a 200-day simple moving average of $14.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Activity at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 115,866 shares of NuScale Power stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total transaction of $2,108,761.20. Following the completion of the sale, the insider now directly owns 14,054 shares of the company’s stock, valued at $255,782.80. The trade was a 89.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the company’s stock in a transaction on Friday, November 29th. The stock was 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 owns 3,801 shares of the company’s stock, valued at $110,229. This represents a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 422,237 shares of company stock worth $6,005,215 in the last quarter. 1.96% of the stock is owned by company insiders.

Institutional Trading of NuScale Power

Institutional investors and hedge funds have recently made changes to their positions in the company. Canal Insurance CO lifted its stake in shares of NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock worth $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in NuScale Power by 212.4% in the third 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. Verition Fund Management LLC lifted its position in shares of NuScale Power by 319.9% during the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock valued at $1,314,000 after buying an additional 86,454 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in shares of NuScale Power in the 3rd quarter valued at about $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of NuScale Power by 57.2% in 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 worth $4,074,000 after buying an additional 128,012 shares during the last quarter. 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.