NuScale Power (NYSE:SMR) Stock Price Down 2.5% - Here's What Happened

NuScale Power Co. (NYSE:SMR - Get Free Report) fell 2.5% during mid-day trading on Friday . The stock traded as low as $18.77 and last traded at $19.19. 2,857,335 shares were traded during mid-day trading, a decline of 69% from the average session volume of 9,280,657 shares. The stock had previously closed at $19.68.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Craig Hallum boosted their price target on shares of NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. 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 target price for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $10.39.

NuScale Power Trading Up 1.8 %

The company's fifty day simple moving average is $22.85 and its two-hundred day simple moving average is $15.62. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of -21.09 and a beta of 1.47. The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26.

Insider Buying and Selling

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 sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Lawrence Hopkins sold 664,568 shares of NuScale Power stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 34,675 shares in the company, valued at approximately $625,537. The trade was a 95.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 798,620 shares of company stock valued at $14,624,962. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Large investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of NuScale Power during the third quarter worth about $44,000. US Bancorp DE acquired a new position in NuScale Power during the 3rd quarter worth approximately $54,000. CWM LLC grew its stake in shares of NuScale Power by 4,593.8% during the 3rd quarter. CWM LLC now owns 5,304 shares of the company's stock worth $61,000 after acquiring an additional 5,191 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of NuScale Power in the second quarter valued at approximately $115,000. Finally, Victory Capital Management Inc. bought a new stake in shares of NuScale Power in the third quarter worth $116,000. 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.