NuScale Power (NYSE:SMR) Shares Down 7.3% - Should You Sell?

NuScale Power Co. (NYSE:SMR - Get Free Report) fell 7.3% on Monday . The company traded as low as $18.13 and last traded at $18.66. 3,210,443 shares changed hands during trading, a decline of 64% from the average session volume of 9,017,030 shares. The stock had previously closed at $20.13.

Analyst Ratings Changes

Separately, Craig Hallum increased their price objective on shares of NuScale Power from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, NuScale Power currently has a consensus rating of "Moderate Buy" and an average target price of $10.39.

NuScale Power Stock Performance

The firm has a market capitalization of $4.81 billion, a PE ratio of -19.82 and a beta of 1.47. The business has a 50-day simple moving average of $22.85 and a 200-day simple moving average of $15.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.24 and a quick ratio of 2.24.

Insider Activity

In related news, CEO John Lawrence Hopkins sold 664,568 shares of the company's stock in a transaction on Thursday, January 2nd. The stock was 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 sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Jacqueline F. Engel sold 18,186 shares of NuScale Power stock in a transaction dated Friday, November 29th. The shares were 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 $110,229. This trade represents a 82.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 798,620 shares of company stock valued at $14,624,962. 1.96% of the stock is currently owned by insiders.

Institutional Trading of NuScale Power

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its position in shares of NuScale Power by 97.3% during 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 during the last quarter. Principal Financial Group Inc. purchased a new position in shares of NuScale Power in the second quarter valued at approximately $123,000. Commonwealth Equity Services LLC boosted 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 position in shares of NuScale Power by 62.9% during the second quarter. Rhumbline Advisers now owns 104,341 shares of the company's stock worth $1,220,000 after purchasing an additional 40,305 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in NuScale Power in the 2nd quarter valued at $115,000. 78.37% of the stock is owned by institutional investors and hedge funds.

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.