NuScale Power (NYSE:SMR) Stock Price Down 7.3% - Here's Why

NuScale Power Co. (NYSE:SMR - Get Free Report)'s stock price was down 7.3% during mid-day trading on Friday . The company traded as low as $22.41 and last traded at $22.87. 3,283,010 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 6,178,468 shares. The stock had previously closed at $24.66.

Analysts Set New Price Targets

SMR has been the subject of several research reports. 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 initiated coverage on shares of NuScale Power in a report on Friday, September 13th. They issued an "outperform" rating and a $11.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Down 6.5 %

The company has a market cap of $5.74 billion, a P/E ratio of -24.07 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.66. The company has a 50 day moving average of $15.17 and a 200-day moving average of $11.24.

Insider Transactions at NuScale Power

In other news, CFO Robert Ramsey Hamady sold 19,242 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $7.98, for a total transaction of $153,551.16. Following the completion of the sale, the chief financial officer now owns 57,681 shares of the company's stock, valued at approximately $460,294.38. This represents a 25.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert K. Temple sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $9.57, for a total transaction of $47,850.00. Following the sale, the insider now owns 14,054 shares of the company's stock, valued at approximately $134,496.78. This represents a 26.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 428,293 shares of company stock valued at $5,679,222. 1.96% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Catalina Capital Group LLC grew its stake in shares of NuScale Power by 6.8% in the third quarter. Catalina Capital Group LLC now owns 12,638 shares of the company's stock worth $146,000 after acquiring an additional 809 shares during the period. HighTower Advisors LLC increased its position in NuScale Power by 7.3% in the third quarter. HighTower Advisors LLC now owns 12,108 shares of the company's stock worth $140,000 after buying an additional 820 shares in the last quarter. Indie Asset Partners LLC raised its stake in NuScale Power by 7.1% during the 3rd quarter. Indie Asset Partners LLC now owns 18,800 shares of the company's stock worth $218,000 after acquiring an additional 1,250 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of NuScale Power during the 3rd quarter valued at $44,000. Finally, Price T Rowe Associates Inc. MD lifted its position 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 valued at $106,000 after acquiring an additional 4,014 shares in the last quarter. 15.28% 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.

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