NuScale Power (NYSE:SMR) Shares Down 2.2% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) traded down 2.2% during mid-day trading on Monday . The company traded as low as $19.37 and last traded at $20.67. 4,601,809 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 6,488,085 shares. The stock had previously closed at $21.13.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. CLSA started coverage on shares of NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 price target on the stock. Craig Hallum boosted their target price 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 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 stock. According to MarketBeat, NuScale Power has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Trading Up 2.8 %

The firm has a market cap of $5.55 billion, a P/E ratio of -22.86 and a beta of 1.33. The business has a 50 day moving average of $21.77 and a two-hundred day moving average of $14.20. The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $10.90, for a total value of $1,576,434.30. Following the transaction, the insider now directly owns 14,054 shares of the company's stock, valued at $153,188.60. This represents a 91.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available 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 transaction, 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. In the last 90 days, insiders sold 422,237 shares of company stock valued at $6,005,215. Company insiders own 1.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SMR. Catalina Capital Group LLC increased its position in shares of NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company's stock worth $146,000 after purchasing an additional 809 shares during the period. HighTower Advisors LLC raised its position in shares of NuScale Power by 7.3% in the 3rd quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock valued at $140,000 after buying an additional 820 shares in the last quarter. Indie Asset Partners LLC lifted its holdings in shares of NuScale Power by 7.1% during the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock worth $218,000 after acquiring an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of NuScale Power during the 3rd quarter worth approximately $44,000. Finally, Price T Rowe Associates Inc. MD increased its stake in NuScale Power by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock valued at $106,000 after acquiring an additional 4,014 shares during the last quarter. Institutional investors and hedge funds 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.