NuScale Power (NYSE:SMR) Shares Down 5.6% - What's Next?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) were down 5.6% during trading on Thursday . The company traded as low as $22.77 and last traded at $23.46. Approximately 5,014,700 shares were traded during trading, a decline of 22% from the average daily volume of 6,424,358 shares. The stock had previously closed at $24.85.

Analyst Upgrades and Downgrades

SMR has been the subject of several recent research reports. Craig Hallum upped their price objective on NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They set an "outperform" rating and a $11.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Performance

The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of -24.69 and a beta of 1.33. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24. The company's 50-day moving average price is $20.08 and its two-hundred day moving average price is $13.32.

Insider Activity

In related news, VP Jacqueline F. Engel sold 18,186 shares of the business's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $29.00, for a total value of $527,394.00. Following the completion of the sale, the vice president now directly owns 3,801 shares of the company's stock, valued at $110,229. The trade was a 82.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert K. Temple sold 144,627 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $153,188.60. The trade was a 91.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,237 shares of company stock valued at $6,053,065 in the last ninety days. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Institutional investors have recently modified their holdings of the company. Catalina Capital Group LLC raised its stake 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 last quarter. HighTower Advisors LLC grew its stake 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 worth $140,000 after acquiring an additional 820 shares in the last quarter. Indie Asset Partners LLC raised its holdings in shares of NuScale Power by 7.1% in the third quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock valued at $218,000 after purchasing an additional 1,250 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of NuScale Power during the third quarter valued at about $44,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in NuScale Power by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 19,729 shares of the company's stock worth $106,000 after purchasing an additional 4,014 shares during the last quarter. 15.28% of the stock is 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.

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