NuScale Power (NYSE:SMR) Shares Down 9.1% - Should You Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares were down 9.1% on Thursday . The company traded as low as $18.65 and last traded at $19.74. Approximately 8,987,428 shares changed hands during trading, a decline of 15% from the average daily volume of 10,624,304 shares. The stock had previously closed at $21.72.

Analysts Set New Price Targets

Several equities research analysts have commented on SMR shares. CLSA began coverage on shares of NuScale Power in a research note on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective for the company. Craig Hallum lifted their target price 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Trading Down 9.1 %

The company has a current ratio of 2.24, a quick ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a market cap of $5.04 billion, a PE ratio of -20.78 and a beta of 1.47. The firm has a fifty day simple moving average of $22.83 and a two-hundred day simple moving average of $15.55.

Insider Activity at NuScale Power

In related news, 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 represents a 95.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Robert K. Temple sold 115,866 shares of the business's stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $18.20, for a total transaction 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. The trade was a 89.18 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 798,620 shares of company stock valued at $14,624,962. Corporate insiders own 1.96% of the company's stock.

Institutional Trading of NuScale Power

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of NuScale Power by 97.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 278,513 shares of the company's stock worth $3,256,000 after purchasing an additional 137,382 shares in the last quarter. Principal Financial Group Inc. bought a new stake in NuScale Power in the second quarter worth $123,000. Commonwealth Equity Services LLC grew its stake in shares of NuScale Power by 85.9% in the second quarter. Commonwealth Equity Services LLC now owns 78,411 shares of the company's stock worth $917,000 after acquiring an additional 36,236 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of NuScale Power by 62.9% during the second quarter. Rhumbline Advisers now owns 104,341 shares of the company's stock valued at $1,220,000 after acquiring an additional 40,305 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of NuScale Power during the second quarter valued at $115,000. 78.37% of the stock is owned by institutional investors.

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.