NuScale Power (NYSE:SMR) Stock Price Down 1.8% - Here's Why

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) were down 1.8% during trading on Tuesday . The stock traded as low as $22.30 and last traded at $23.42. Approximately 5,544,179 shares were traded during trading, a decline of 55% from the average daily volume of 12,213,779 shares. The stock had previously closed at $23.85.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum raised their price target 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 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. According to data from MarketBeat, NuScale Power currently has an average rating of "Moderate Buy" and an average price target of $11.42.

NuScale Power Stock Performance

The company has a market capitalization of $6.60 billion, a PE ratio of -27.22 and a beta of 1.51. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The business has a 50 day simple moving average of $22.05 and a 200 day simple moving average of $17.17.

NuScale Power (NYSE:SMR - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.18) EPS for the quarter. NuScale Power had a negative net margin of 1,089.32% and a negative return on equity of 72.85%. The company had revenue of $0.48 million during the quarter, compared to analysts' expectations of $6.18 million. During the same period in the previous year, the business earned ($0.26) earnings per share.

Insiders Place Their Bets

In other NuScale Power news, VP Jacqueline F. Engel sold 18,186 shares of the firm'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 transaction of $527,394.00. Following the completion of the transaction, the vice president now directly owns 3,801 shares of the company's stock, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $11,988,806.72. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. HighTower Advisors LLC grew its position in NuScale Power by 51.0% during the 4th quarter. HighTower Advisors LLC now owns 18,283 shares of the company's stock worth $328,000 after purchasing an additional 6,175 shares during the period. Independent Advisor Alliance acquired a new stake in NuScale Power during the fourth quarter worth about $208,000. Tiemann Investment Advisors LLC purchased a new position in NuScale Power during the fourth quarter valued at approximately $278,000. PNC Financial Services Group Inc. lifted its holdings in NuScale Power by 2,980.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,696 shares of the company's stock valued at $66,000 after acquiring an additional 3,576 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in NuScale Power in the 4th quarter worth approximately $2,755,000. Hedge funds and other institutional investors own 78.37% of the company's stock.

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.