NuScale Power (NYSE:SMR) Stock Price Down 0.9% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report) shares fell 0.9% during mid-day trading on Thursday . The stock traded as low as $24.63 and last traded at $25.51. 2,887,189 shares traded hands during mid-day trading, a decline of 54% from the average session volume of 6,246,673 shares. The stock had previously closed at $25.74.

Wall Street Analysts Forecast Growth

SMR has been the topic of a number of research reports. CLSA began coverage on NuScale Power in a research report on Friday, September 13th. They set an "outperform" rating and a $11.00 target price on the stock. Craig Hallum increased their price target on NuScale Power from $16.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. One 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 company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $10.39.

NuScale Power Stock Performance

The company has a quick ratio of 2.24, a current ratio of 2.24 and a debt-to-equity ratio of 0.26. The stock has a market cap of $7.07 billion, a P/E ratio of -29.28 and a beta of 1.12. The business has a 50 day moving average price of $16.60 and a two-hundred day moving average price of $11.83.

Insider Activity

In other NuScale Power news, insider Robert K. Temple sold 5,000 shares of the company's stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $9.57, for a total value of $47,850.00. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at approximately $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert Ramsey Hamady sold 19,242 shares of the firm's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $7.98, for a total value of $153,551.16. Following the completion of the transaction, the chief financial officer now owns 57,681 shares in the company, valued at approximately $460,294.38. This trade represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Avantax Advisory Services Inc. acquired a new stake in shares of NuScale Power during the first quarter worth about $58,000. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $106,000 after acquiring an additional 4,014 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of NuScale Power in the first quarter worth $98,000. Swedbank AB acquired a new position in shares of NuScale Power in the first quarter worth $18,585,000. Finally, Simplicity Wealth LLC acquired a new position in shares of NuScale Power in the second quarter worth $159,000. 15.28% of the stock is currently owned by hedge funds and other institutional investors.

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.

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