NuScale Power (NYSE:SMR) Trading Down 5.7% - Time to Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares fell 5.7% during trading on Wednesday . The stock traded as low as $20.04 and last traded at $20.48. 6,564,440 shares were traded during mid-day trading, an increase of 1% from the average session volume of 6,508,947 shares. The stock had previously closed at $21.71.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SMR. Craig Hallum boosted their target price 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 initiated coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Trading Down 12.0 %

The firm has a market cap of $4.88 billion, a PE ratio of -20.12 and a beta of 1.33. The firm has a fifty day simple moving average of $21.94 and a two-hundred day simple moving average of $14.29. 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 news, insider Robert K. Temple sold 115,866 shares of the firm's stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $18.20, for a total value of $2,108,761.20. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $255,782.80. This trade represents a 89.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jacqueline F. Engel sold 18,186 shares of the company's 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 completion of the sale, the vice president now directly owns 3,801 shares in the company, valued at approximately $110,229. The trade was a 82.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 422,237 shares of company stock valued at $6,005,215 over the last quarter. 1.96% of the stock is owned by company insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors and hedge funds have recently added to or reduced their stakes in SMR. Canal Insurance CO lifted its holdings in shares of NuScale Power by 35.0% during the third quarter. Canal Insurance CO now owns 216,000 shares of the company's stock valued at $2,501,000 after purchasing an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in NuScale Power by 212.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock valued at $7,843,000 after buying an additional 460,487 shares in the last quarter. Verition Fund Management LLC raised its stake in NuScale Power by 319.9% during the third quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock valued at $1,314,000 after buying an additional 86,454 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in NuScale Power in the third quarter worth $277,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in NuScale Power by 57.2% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 351,777 shares of the company's stock worth $4,074,000 after acquiring an additional 128,012 shares in the last quarter. 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.