NuScale Power (NYSE:SMR) Shares Down 13.4% - Should You Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) shares dropped 13.4% on Wednesday . The company traded as low as $18.81 and last traded at $18.81. Approximately 4,306,158 shares changed hands during trading, a decline of 55% from the average daily volume of 9,577,696 shares. The stock had previously closed at $21.72.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SMR. 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. CLSA began coverage on NuScale Power in a research note on Friday, September 13th. They set an "outperform" rating and a $11.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NuScale Power has a consensus rating of "Moderate Buy" and a consensus target price of $10.39.

NuScale Power Stock Down 9.1 %

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 capitalization of $5.04 billion, a P/E ratio of -20.78 and a beta of 1.47. The company has a fifty day moving average price of $22.84 and a 200-day moving average price of $15.49.

Insiders Place Their Bets

In related news, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power 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 transaction, the vice president now owns 3,801 shares in the company, valued at approximately $110,229. This trade represents a 82.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Lawrence Hopkins sold 664,568 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $18.04, for a total value of $11,988,806.72. Following the sale, the chief executive officer now directly owns 34,675 shares in the company, valued at $625,537. The trade was a 95.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 798,620 shares of company stock valued at $14,624,962 in the last quarter. 1.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On NuScale Power

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Canal Insurance CO lifted its position in NuScale Power by 35.0% in the third quarter. Canal Insurance CO now owns 216,000 shares of the company's stock worth $2,501,000 after buying an additional 56,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of NuScale Power by 212.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 677,248 shares of the company's stock worth $7,843,000 after acquiring an additional 460,487 shares during the last quarter. Verition Fund Management LLC boosted its stake in shares of NuScale Power by 319.9% during the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock worth $1,314,000 after purchasing an additional 86,454 shares during the period. Stifel Financial Corp grew its holdings in NuScale Power by 581.8% during the 3rd quarter. Stifel Financial Corp now owns 118,355 shares of the company's stock valued at $1,371,000 after purchasing an additional 100,995 shares during the last quarter. Finally, Benjamin Edwards Inc. purchased a new stake in NuScale Power in the 3rd quarter worth about $277,000. 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.