NuScale Power (NYSE:SMR) Shares Down 0.7% – Time to Sell?

NuScale Power Co. (NYSE:SMR)’s share price fell 0.7% during trading on Thursday . The company traded as low as $20.40 and last traded at $20.67. 2,957,870 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 8,244,003 shares. The stock had previously closed at $20.82.

Analyst Ratings Changes

Separately, Craig Hallum increased their target price on 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 five have assigned a buy rating to the company. Based on data from MarketBeat, NuScale Power currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.39.

NuScale Power Price Performance

The stock has a market capitalization of $5.62 billion, a P/E ratio of -23.17 and a beta of 1.47. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The company has a fifty day simple moving average of $22.77 and a two-hundred day simple moving average of $15.93.

Insider Activity at NuScale Power

In other news, CEO John Lawrence Hopkins sold 664,568 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the completion of the sale, the chief executive officer now directly owns 34,675 shares of the company’s stock, valued at $625,537. This represents a 95.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $29.00, for a total transaction of $527,394.00. Following the transaction, the vice president now directly 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. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMR. Rhumbline Advisers lifted its holdings in shares of NuScale Power by 62.9% during the 2nd quarter. Rhumbline Advisers now owns 104,341 shares of the company’s stock valued at $1,220,000 after purchasing an additional 40,305 shares in the last quarter. Hsbc Holdings PLC bought a new position in NuScale Power in the second quarter valued at approximately $126,000. Sei Investments Co. acquired a new position in shares of NuScale Power in the second quarter valued at approximately $520,000. Squarepoint Ops LLC bought a new stake in shares of NuScale Power during the second quarter worth $783,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of NuScale Power by 37.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,549 shares of the company’s stock worth $345,000 after acquiring an additional 8,096 shares during the period. 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.