NuScale Power (NYSE:SMR) Shares Gap Down – Should You Sell?

NuScale Power Co. (NYSE:SMR)’s share price gapped down prior to trading on Monday . The stock had previously closed at $21.13, but opened at $20.28. NuScale Power shares last traded at $20.33, with a volume of 3,087,124 shares changing hands.

Analyst Ratings Changes

A number of brokerages have commented on SMR. Craig Hallum raised their price objective on NuScale Power from $16.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. CLSA started coverage on NuScale Power in a research report on Friday, September 13th. They issued an “outperform” rating and a $11.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

NuScale Power Price Performance

The company has a 50-day moving average of $21.94 and a 200 day moving average of $14.29. 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 cap of $5.54 billion, a P/E ratio of -22.85 and a beta of 1.33.

Insider Buying and Selling at NuScale Power

In other NuScale Power news, insider Robert K. Temple sold 75,000 shares of NuScale Power stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $12.00, for a total value of $900,000.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $168,648. The trade was a 84.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the 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 sale, the vice president now owns 3,801 shares in the company, valued at $110,229. The trade was a 82.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 422,237 shares of company stock valued at $6,005,215. 1.96% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On NuScale Power

A number of large investors have recently modified their holdings of SMR. Canal Insurance CO raised its holdings in 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 stake in shares of NuScale Power by 212.4% during the third 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 during the last quarter. Verition Fund Management LLC lifted its holdings in NuScale Power by 319.9% in 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 period. Benjamin Edwards Inc. bought a new position in NuScale Power in the third quarter valued at approximately $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of 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 acquiring an additional 128,012 shares during the last quarter. 78.37% of the stock is currently 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.