NuScale Power (NYSE:SMR) Stock Price Down 3.9% - What's Next?

Shares of NuScale Power Co. (NYSE:SMR - Get Free Report) dropped 3.9% on Tuesday . The company traded as low as $22.76 and last traded at $23.00. Approximately 3,175,176 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 6,444,492 shares. The stock had previously closed at $23.94.

Analyst Upgrades and Downgrades

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

NuScale Power Stock Performance

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 business has a 50-day simple moving average of $20.83 and a 200 day simple moving average of $13.73. The firm has a market cap of $5.69 billion, a PE ratio of -23.54 and a beta of 1.33.

Insider Buying and Selling

In other NuScale Power news, insider Robert K. Temple sold 144,627 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $10.90, for a total transaction of $1,576,434.30. Following the completion of the transaction, the insider now owns 14,054 shares in the company, valued at $153,188.60. This trade represents a 91.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of the firm's stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $29.00, for a total value of $527,394.00. Following the transaction, the vice president now owns 3,801 shares of the company's stock, valued at $110,229. This represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 427,237 shares of company stock worth $6,053,065. 1.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On NuScale Power

Several institutional investors have recently added to or reduced their stakes in SMR. Canal Insurance CO lifted its stake in shares of NuScale Power by 35.0% in the 3rd 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. Verition Fund Management LLC lifted its stake in shares of NuScale Power by 319.9% in the 3rd quarter. Verition Fund Management LLC now owns 113,476 shares of the company's stock valued at $1,314,000 after purchasing an additional 86,454 shares during the last quarter. Van ECK Associates Corp lifted its stake in shares of NuScale Power by 90.0% in the 3rd quarter. Van ECK Associates Corp now owns 1,235,457 shares of the company's stock valued at $14,307,000 after purchasing an additional 585,292 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of NuScale Power by 1,984.4% in the 3rd quarter. International Assets Investment Management LLC now owns 114,642 shares of the company's stock valued at $1,328,000 after purchasing an additional 109,142 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of NuScale Power by 244.7% in the 2nd quarter. SG Americas Securities LLC now owns 185,342 shares of the company's stock valued at $2,167,000 after purchasing an additional 131,570 shares during the last quarter. Hedge funds and other institutional investors own 15.28% 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.

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