NuScale Power (NYSE:SMR) Trading Down 0.4% – Should You Sell?

NuScale Power Co. (NYSE:SMR) dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $24.43 and last traded at $25.75. Approximately 4,390,857 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 12,367,630 shares. The stock had previously closed at $25.86.

Wall Street Analyst Weigh In

Separately, Craig Hallum upped their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $11.42.

NuScale Power Trading Up 2.6 %

The stock has a market capitalization of $6.78 billion, a P/E ratio of -27.96 and a beta of 1.51. The stock’s fifty day moving average price is $22.07 and its two-hundred day moving average price is $17.39. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insiders Place Their Bets

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 stock in a transaction on Friday, November 29th. The shares were sold at an average price of $29.00, for a total transaction of $527,394.00. Following the sale, the vice president now directly owns 3,801 shares of the company’s stock, valued at $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. 1.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Canal Insurance CO boosted its position in NuScale Power by 35.0% during the 3rd quarter. Canal Insurance CO now owns 216,000 shares of the company’s stock valued at $2,501,000 after acquiring an additional 56,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased 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 buying an additional 460,487 shares in the last quarter. Verition Fund Management LLC grew its stake in shares of NuScale Power by 319.9% in the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company’s stock worth $1,314,000 after acquiring an additional 86,454 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of NuScale Power by 204.0% during the third quarter. JPMorgan Chase & Co. now owns 166,629 shares of the company’s stock valued at $1,930,000 after purchasing an additional 111,812 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in NuScale Power by 581.8% during the third quarter. Stifel Financial Corp now owns 118,355 shares of the company’s stock valued at $1,371,000 after purchasing an additional 100,995 shares during the period. Institutional investors own 78.37% 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.