NuScale Power (NYSE:SMR) Shares Down 1.4% – What’s Next?

NuScale Power Co. (NYSE:SMR) traded down 1.4% during mid-day trading on Monday . The company traded as low as $21.11 and last traded at $23.51. 6,351,619 shares were traded during mid-day trading, a decline of 48% from the average session volume of 12,187,996 shares. The stock had previously closed at $23.84.

Wall Street Analyst Weigh In

Separately, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.42.

NuScale Power Stock Performance

The firm has a 50-day moving average price of $22.44 and a two-hundred day moving average price of $16.72. 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 firm has a market capitalization of $6.08 billion, a P/E ratio of -25.06 and a beta of 1.51.

NuScale Power (NYSE:SMR) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.18) earnings per share for the quarter. The company had revenue of $0.48 million for the quarter, compared to the consensus estimate of $6.18 million. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. During the same period in the prior year, the firm posted ($0.26) EPS.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the transaction, the vice president now owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John Lawrence Hopkins sold 664,568 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. This trade represents a 95.04 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.96% of the company’s stock.

Institutional Trading of NuScale Power

Several hedge funds have recently modified their holdings of the company. Geode Capital Management LLC grew its position in shares of NuScale Power by 21.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,829,843 shares of the company’s stock worth $21,194,000 after buying an additional 317,285 shares during the last quarter. Van ECK Associates Corp grew its holdings in NuScale Power by 41.4% in the fourth quarter. Van ECK Associates Corp now owns 1,746,625 shares of the company’s stock worth $31,317,000 after purchasing an additional 511,168 shares during the last quarter. State Street Corp increased its position in shares of NuScale Power by 10.2% during the third quarter. State Street Corp now owns 1,674,995 shares of the company’s stock worth $19,396,000 after purchasing an additional 154,368 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company’s stock valued at $7,843,000 after purchasing an additional 460,487 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 buying an additional 128,012 shares in the last quarter. 78.37% of the stock is owned by hedge funds and other 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.